Researchers at Piper Jaffray expect that Apple will reveal during its quarterly conference call next week that it sold some 50 million iPhones for the quarter ending in December, five million more units than the firm previously estimated, while Topeka Capital Markets sees positive indicators for AAPL and set a price target of $1,111 for the stock.





In a quarterly preview, analyst Gene Munster of Piper Jaffray predicts that Apple will surpass the firm's earlier December quarter estimates by five million units based in part on "commentary from AT&T suggesting iPhone sales expanded slightly [year-over-year] and [from] Verizon that iPhone helped it reach record activations in December." Munster estimates roughly 15 million iPhones could have been sold in the U.S., with a possible global sales range of 41 to 54 million units.

Munster also reduces the estimate for iPhones sales for the upcoming March 2013 quarter by five million to 38 million units. The firm expects that Apple's forthcoming guidance will shed light on recent reports of component order cuts.

Piper also expects Apple to announce 25 million iPad sales for the December quarter, with 20 million full-size iPads sold alongside five million iPad minis. Mac sales will likely see a drop of seven percent year-over-year, with Apple selling 4.8 million Macs over the last three months of 2012.

Topeka Capital: Apple risk-reward "extremely attractive"

Analysts at Topeka Capital Markets remain upbeat on AAPL despite negative sentiment surrounding the stock. In a report released Wednesday — titled "Apple's Brightest and Most Innovative Days are Ahead of It" — analyst Brian White said the firm believes Apple's product portfolio "has never been stronger," rated the stock a "buy," and set a 12-month price target of $1,111.

White pointed toward three factors in his positive assessment of Apple's future. First was the continuing growth of the smartphone and tablet sectors, two areas where Apple holds an enviable position as a market leader. Second were positive indications out of China, where Apple is working on a deal with the world's largest carrier China Mobile and is now moving to position its iPhone to be more price-competitive.