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Tue, Oct 07, 2008 - 03:11 AM EDT — AAPL: 98.14 (+1.07, +1.1%) | NASDAQ: 1862.96 (-84.43, -4.34%)

Piper Jaffray: iPhone demand up at sustained rate following new pricing

Friday, September 28, 2007 - 08:46 AM EDT

In a note to clients, Piper Jaffray analyst Gene Munster comments on Apple. Piper's channel checks show iPhone demand at AT&T stores is up at a sustained rate of +70% to 100% post-price cut. In a note from earlier this month, Munster had expected demand to stabilize at +50%.

Piper, incorporating in these new checks, suggests Apple will sell 1.05 million iPhone units in the September quarter. PJ's previous models had suggested 1.01 million phones in the quarter.

In the note, the analyst explains that while 40,000 additional iPhones may seem irrelevant, investors should be mindful that this increase is the result of just 21 days of the quarter at the new US$399 iPhone price point. If one assumes that this +70% run rate is sustainable, which it seems to be currently, it would add approximately 170,000 iPhones units to a full quarter.

As the holiday gift-giving season looms.

Piper Jaffray maintains and "Outperform" rating on Apple with a price target of $211.

[Attribution, Notable Calls.]

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Sep 28, 07 - 09:05 am Comment from: Connor MacBook

OS X is the platform of the future. Once Apple takes over the mobile space, the desktop will naturally follow.

Sep 28, 07 - 09:28 am Comment from: go aapl!

mw: press as in "full court"

Sep 28, 07 - 09:31 am Comment from: marko

iWonder if Monkey Boy Ballmer still sees the iPhone as a novelty item.

Sep 28, 07 - 09:37 am Comment from: DJ

Connor,

You mean just like Linux?

Sep 28, 07 - 09:39 am Comment from: Spike

Is that post-price-cut or post-unlock?

MW: more, as in "more options beyond AT&T;== more customers == more sales".

Sep 28, 07 - 09:50 am Comment from: No Squirt for You

"iWonder if Monkey Boy Ballmer still sees the iPhone as a novelty item."

Anything that's shiny and fits in his mouth qualifies.

Sep 28, 07 - 09:52 am Comment from: Connor MacBook

DJ, OS X has consumer-friendly ease of use and prettiness on its side (not to mention the iFactor).

Sep 28, 07 - 09:53 am Comment from: Zune Tang

Nonsense. I'd like to see Mr. Munster's research techniques and data to support his wild claims.

I've got some real research and statistical analysis in the form of the IT guys where I work. They wouldn't touch an iPhone with a 10-foot pole. They are rockin' Motorola Q's from Verizon. How can Apple compete with the awesome combination of Verizon V CAST AND magnificent Microsoft Windows Mobile on one device? They can't. Sure Apple, offer up the same expensive, proprietary toys and see where that gets you. Idiots.

Your potential. Our passion.™

Sep 28, 07 - 10:12 am Comment from: new phone from Microsoft

hey Zune Tang...have you seen the new zune phone??

http://www.tuaw.com/2007/08/23/the-zunephone/

Alexander Grahm Bell, Edmund Land and George Eastman LOVE it.

Sep 28, 07 - 10:46 am Comment from: Macaday

Well said: Connor MacBook :

"OS X is the platform of the future. Once Apple takes over the mobile space, the desktop will naturally follow."

That's the first time I've seen anyone say that. and thinking about it, I think it could well prove right.

And no, it isn't the same with Linux because Symbian has much the biggest mobile phone OS penetration.

Microsoft: from desktop monopoly to oddball shoot 'em up game maker in 5 years...

Sep 28, 07 - 11:23 am Comment from: IT guys

"I've got some real research and statistical analysis in the form of the IT guys where I work."

LOL.

Sep 28, 07 - 03:20 pm Comment from: Rudge

Well, I'm glad to see that demand for the iPhone at AT&T;is on the rise, months after it's release. Maybe we'll start to see AT&T;show the iPhone next to their other featured phones in their TV ads. That would be cool.

I'm also happy to see the added popularity of the iPhone. Has anyone here actually seen people use an iPhone on the new TV shows?

Sep 28, 07 - 05:29 pm Comment from: Jack Aston

You don't know real statistical analysis from IT guys, I do.

Sep 30, 07 - 08:45 am Comment from: SoemthingSmells

Something smells rotten with PJ's numbers.

Apple hits the 1 million iPhones milestone a few days after it drops the price.

Taking off 200k iPhones for the previous quarter that means they sold 800k iphones in 10 weeks, or an average of 80k/week.

Now Piper Jaffrey says they will sell another 200k to 250k phones in the last 3-4 weeks of the month.

At best, that's absolutely NO increase in average sales.

The only way it could be an increase of that magnitude is if iPhone sales had plummeted through August.

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Tue, Oct 07, 2008 - 03:11 AM EDT — AAPL: 98.14 (+1.07, +1.1%) | NASDAQ: 1862.96 (-84.43, -4.34%)

Piper Jaffray: iPhone demand up at sustained rate following new pricing

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