Suppliers Prep to Build 3M CDMA iPhones in Dec.
The latest rumors in terms of a possible Verizon iPhone have been pointing to Q1 in 2011, and today reports were released of Apple suppliers confirming that information. Analyst Jeffrey Fidacaro with Susquehanna Financial Group said that in a note to investors on Wednesday.
Fidacaro's research note said that information coming from overseas suppliers indicated Apple will begin manufacturing CDMA iPhones in December, and that the Cupertino, CA company is ready to build 3 million of them that month. Verizon and Sprint use CDMA technology in the U.S., with Verizon the largest wireless carrier in the country, although AT&T is rapidly gaining. There are other CDMA networks around the world, but even given that, Verizon is likely to be the target of these iPhones.
In Apple's fiscal Q4, which is actually calendar Q3, Fidacaro expects Apple to sell 11.6 million iPhones, which would be a 39 percent increase from the 8.4 million handsets the company sold in is fiscal Q3, and a record. Susquehanna Financial Group has a positive rating for Apple stock, and has a $365 price target (Apple stock closed Wednesday at $287.75, up $3.98).
Fidacaro's research note said that information coming from overseas suppliers indicated Apple will begin manufacturing CDMA iPhones in December, and that the Cupertino, CA company is ready to build 3 million of them that month. Verizon and Sprint use CDMA technology in the U.S., with Verizon the largest wireless carrier in the country, although AT&T is rapidly gaining. There are other CDMA networks around the world, but even given that, Verizon is likely to be the target of these iPhones.
In Apple's fiscal Q4, which is actually calendar Q3, Fidacaro expects Apple to sell 11.6 million iPhones, which would be a 39 percent increase from the 8.4 million handsets the company sold in is fiscal Q3, and a record. Susquehanna Financial Group has a positive rating for Apple stock, and has a $365 price target (Apple stock closed Wednesday at $287.75, up $3.98).
