So, Gene Munster, who you may or may not know is the most wildly optimistic Apple analyst in the world, has estimated some numbers on iPhone sales pre and post-price cut, as reported by Business 2.0:
“By Munster’s reckoning, Apple and AT&T (T) were selling an average of 9,000 iPhones a day before the price reduction, which would have put their quarterly sales at 594,000 as of Sept. 5. The two companies had already sold 270,000 phones in the previous quarter. To reach 1 million by Sept. 9, they would have had to sell 136,000 more phones, or 27,000 a day — a 300% increase.
The new rate, Munster writes in a report to clients issued yesterday, “clearly represents an initial surge that is not sustainable.” He estimates that sales will stabilize at a 50% increase.
By the end of the quarter, he believes, Apple will have sold a total 1.28 million iPhones.”
I hope he’s right. I sold my APVAG calls yesterday, though I still hold APVDJ calls and, of course, a lot of straight AAPL shares. It’s not that I expect Apple to be lower in January than they are now (APVAG is an AAPL $135 Jan 08 call). It’s just that I feel AAPL will decline in the next 2 weeks before they start appreciating going into the earnings report, so I anticipate buying calls again in the next week or two.