Another day, another low-cost iPhone (AAPL +1.3%) report. RBC's Amit Daryanani says his checks...

|By:, SA News Editor

Another day, another low-cost iPhone (AAPL +1.3%) report. RBC's Amit Daryanani says his checks indicate a cheaper iPhone with a plastic case and a 4" non-retina display is on the way. He thinks it will arrive in the June/July timeframe, sell for less than $400, and (after modeling various scenarios in a spreadsheet) add $22B in sales and $5 in EPS to Apple's 2014 results. For those keeping score, RBC, Jefferies, KGI Securities, Sterne Agee, and Goldman have all predicted a cheaper iPhone will arrive, but the details they provide vary plenty.