) is only a few hours away from reporting its fiscal 2013 second
quarter results. During the first quarter, Apple set a new
for the iPhone, selling nearly 48 million units. This figure
included the sale of three models: the iPhone 4, iPhone 4S and
Despite the company's massive success, some analysts were
disappointed with Apple's results because they believed that the
Mac maker would sell
50 million iPhones
Analysts have much lower expectations for the second
lowered its Price Target
from $630 to $610, which is still significantly higher than the
company's current value of roughly $404 a share.
Monness Crespi Hardt
lowered its PT
even further, going from $670 to just $520.
did the same
. While the company upgraded Apple from Hold to Buy, BGC lowered
its PT from $550 to $500.
Regardless, Apple could be on track for another
fiscal 2012 second quarter
, Apple sold 35.1 million iPhones. According to
(a division of global research firm TrendForce), Apple sold 37.5
million iPhones during the fiscal 2013 second quarter.
This would set a new record and allow Apple to actually beat
of 36.5 million units.
While any level of growth is good for Apple, the company is
not growing as quickly as the global smartphone market.
Consequently, DRAMeXchange expects Apple's market share to
decline from 18.8 percent in 2012 to 15.3 percent in 2013.
At the same time, DRAMeXchange reported that Samsung acquired
nearly 30 percent of the global smartphone market during the
March quarter. Global smartphone shipments also achieved a new
high, with more than 216 million units shipped worldwide.
With 30 percent of the market, Samsung is believed to have
shipped 65 million smartphones during the quarter.
"As for Apple, the iPhone 5 has been unable to satisfy
consumers' desire for innovation, and shipments were
unsatisfactory as Android manufacturers have stepped up to the
plate," DRAMeXchange wrote in its report.
"The Cupertino company shipped a mere 37.5 million units in
the first quarter, giving them 17.3 percent market share, a
decrease of 1.2 percent from the previous quarter. Currently,
circumstances surrounding the announcement of Apple's new device
are unclear, while Samsung, HTC, Sony (NYSE:
), and other global corporations are planning product unveilings
for the second quarter, which will likely lead to another dip in
Louis Bedigian is the Senior Tech Analyst and Features Writer
of Benzinga. You can reach him at 248-636-1322 or
louis(at)benzingapro(dot)com. Follow him
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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