Is There an Unprecedented Demand for 3G iPhone?

New data compiled from 3,600 respondents following Apple Inc.’s (AAPL) Worldwide Developers Conference shows “unprecedented pent-up” demand for the 3G iPhone, with 56% of those planning to buying a smartphone in the next 90 days are going with the iPhone, according to RBC Capital Markets analyst Mike Abramsky. Another 25% indicated that they may buy the high-anticipated device “sometime in the future,” which represents a more than doubling of interest since before the first iPhone was launched.

Interest in the new iPhone exceeds other brands like Research In Motion (RIMM) (23%), Palm (PALM) (3%), HTC (2%), Nokia (NOK) (2%), Samsung (2%), Motorola (MOT)(1%), and others (11%), RBC told clients.

As for the reasons behind this huge interest, respondents said the iPhone’s lower price is the primary factor (67%), 3G features (63%), GPS (47%), enterprise e-mail (35%) and third-party applications (20%).

These result support RBC’s outlook for iPhone shipments, which calls for 5.1 million units in the fourth quarter of fiscal 2008 and 6.5 million in the first quarter of 2009. In calendar 2008 and 2009 those numbers are expected to be 14 million and 24 million, respectively.

The analyst rates Apple shares at “outperform” with a $220 price target.

Comments

[calculator:]

intresting if AAPL touch $150 this month?

2008 Jul 01 04:05 AM

[mrtaxx:]

Why a question mark after the articles title heading if the data shows there Unprecedented Demand for 3G iPhone? Looks like another writer may be short or has aquaintences that are short Apples stock. The writer didn't even put his/her name on the article.

The article states "56% of those planning to buying a smartphone in the next 90 days are going with the iPhone, according to RBC Capital Markets analyst Mike Abramsky. Another 25% indicated that they may buy the high-anticipated device “sometime in the future." (56%+25%=81%) may buy the iPhone, WOW, that's a lot of iPhones.

2008 Jul 01 04:59 AM

[wallawallab...:]

Wallstreet better get Apple in focus, or they will be on the wrong side of the trade.

It's dismaying that Apple as a company and stock is underappreciated.

2008 Jul 01 06:12 AM

[kmanm:]

I was at local Best Buy store about two weeks ago and they had several macs on display. I asked the sales man if customers really buying those macs and he said that about 30% of computer sells are macs.

2008 Jul 01 08:19 AM

[tom1234:]

AT&T is offering early up grade to owners of iphone before july 12th

2008 Jul 01 08:20 AM

[iBeleive:]

APPLE has downplayed anything and everything about the potential sales of the iPhone. Just like they did for the longest time with the iPod. You know the ole' saying, "Build It and They WILL COME". Well, they have built it and they ARE coming. The new price is HUGE and will more than double sales. This is the smartphone of demand, no 2 ways about it.

2008 Jul 01 08:35 AM

[Tom B:]

"It's dismaying that Apple as a company and stock is underappreciated."

Well, you have losers like Larry Dignan here on Seekingalpha who say things like "the iPhone will do well because it will sell to the fan base". What Larryy-- and Wall Street-- don't understand is the "the fan base" is potentially EVERYBODY now. The days of Apple catering to a "niche market" of people who wear black or something are OVER.

2008 Jul 01 08:40 AM

[mollytjm:]

30% of Best Buy computer customers are buying Macs? whew. even if it's half that, it's at Best Buy. i don't think Apple's growth is really appreciated or understood by most people. it's scope is astonishing. no one trick pony here and no debt either.

2008 Jul 01 11:05 AM

[Constable Odo:]

WS is going to sit on Apple so it never rises above $185. Now that RIMs bubble has popped, I'm curious to see where those investors are heading for. Will they go to Apple or Google.

Everyone keeps saying that Apple is misunderstood. Why is that? It's public record that Apple devices are selling and ready to enter the global arena and corporate sector bigtime. Apple has plenty of money in the bank. Apple products are in high demand. WS isn't blind. They know, but they hate and fear Apple out of general principle. No company should be that good in a comfortable world of safe beige boxes and dependable WinXP. iPods and iMacs are too much fun for young adults that it's frightening the old fogeys on WS. They don't understand iPhone. It's too unbusiness-like. It'll even play games better than dedicated game machines. Can't have the young kids sweeping away the old guard.

Apple's stock could easily be in the mid $250 range by now, but WS won't let it run free. I think it will take awhile for all those old guys to die off. Until then we'll see Apple's stock sitting at $170.

2008 Jul 01 01:21 PM

[dieuwer:]

The Apple Bubble

P/E: 34
Appreciation: 2400%+ (compare with oil, 1400%+)
Signs of top: screaming people in front of apple stores

2008 Jul 01 06:43 PM

[Neil Anderson:]

Wall Street is so far behind the curve they can't even see the corner.

2008 Jul 01 08:00 PM

[MarkS2002:]

My wife and I both have a Mac, we have iPods, and she wanted an iPhone, until we saw the minimum annual charge from Rogers in Canada at about $850, with taxes. We don't need it THAT much. I expect that cost, in a recession, will hold down sales.

We are long RIMM and I would like to add AAPL to that; but we will just keep using our Moto on the pay as you go.

2008 Jul 02 12:33 AM

[Sleeper Ser...:]

That'll be 56% of a small sample of US people then?

Besides, I wouldn't take too much notice of that stat - 33% of 40,000 people surveyed just after the original iPhone's release said they would buy it and then quite clearly didn't.

blogs.zdnet.com/Orchan...

2008 Jul 02 02:23 PM