Analysts have begun early predictions of holiday sales of Apple products. According to Rob Cihra of Evercore Partners, Apple’s tablets did pretty well with the iPad mini leading the charge thanks to what he calls a “booming launch.”
According to information from AppleInsider, Cihra updated his projection for Apple’s December quarter in anticipation of the company’s Jan. 23 quarterly earnings report. Cihra believes that Apple sold 50 million iPhone 5s and 24 million iPad, with 10 million of those being designated for the iPad mini. He also noted that the overwhelming demand for the iPad mini (shipping is still delayed by a week at Apple’s online store) has lead to constrained sales during the December quarter.
If his predictions are correct, Cihra’s numbers mean a 35 percent year-over-year increase and 86 percent growth for the iPhone from last quarter. It would also mean a 56 percent year-over-year increase and 71 percent growth for the iPad from last quarter.
Cihra also believes that the highly successful December quarter will have an adverse affect on sales in 2013. He predicts that the “rapid roll out of the iPhone 5 will lead to production cuts in the March quarter.” Cihra also lowered his target forecast of AAPL stock from $775 to $750 per share.