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Bernstein's Tony Sacconaghi becomes the latest analyst to air a cautious note about near-term...

Jun. 29, 2012 1:35 PM ETApple Inc. (AAPL) StockAAPL, CHABy: Eric Jhonsa, SA News Editor10 Comments
Bernstein's Tony Sacconaghi becomes the latest analyst to air a cautious note about near-term iPhone (AAPL +1.9%) sales (I, II). Sacconaghi thinks Chinese sales may have fallen by 1.5M Q/Q in in the June quarter, thanks to an inventory build-up and a slowdown in sales at China Telecom (CHA - previous). However, he sees China's growing middle class increasing the iPhone's addressable market by 55M over the next 5 years, and notes the iPhone's customer loyalty remains unmatched.

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