Apple Raised at Morgan Stanley on IPhone Outlook

Apple Inc. was raised to “overweight” at Morgan Stanley, which said the iPhone will cause company profit to beat estimates for the next two years.

“The market is underestimating iPhone unit demand,” Kathryn Huberty, the Morgan Stanley analyst who covers Apple, wrote in a report sent to clients today. After she cut the shares to “equal-weight” in July, Apple fell 24 percent through last week.

Apple will probably cut prices for the current model of the device, said Huberty, who projected a 50 percent boost in demand for a $50 reduction and 100 percent for $100. She lifted her forecast for calendar year 2009 iPhone sales by 42 percent to 24.8 million and 2010 by 61 percent to 36.2 million.

Read Full Article from Bloomberg

- Posted: 2009-05-26 08:44:28

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