Apple Inc. stock is reaching a new all-time high with the iPhone 6 with larger display coming and will be announcing a record breaking June quarter on July 22, according to analysts.
Analyst Rob Cihra believes that iPhone 6 with larger display will boost Apple's sales to 58 million units for the December quarter - a 14 per cent increase comparing from the sales during the same quarter in 2013.
Cihra is still vouching on Apple's innovative ways. He is seeing that with Apple's technology and services such as Touch ID, HealthKit, HomeKit, Handoff, and iCloud, the company will continue to dominate the consumer markets, especially those in the higher tier.
"We see Apple creating its own growth through uniquely innovative hardware+software with integrated services vs. a sea of otherwise commodity devices," Cihra wrote in a note to investors obtained by AppleInsider.
The analyst also believes that the iWatch will be rolled out ahead of the December quarter. He sees Apple will sell 5 million units of iWatch priced at $249 and will be moving 18 million units of iWatch just within a year.
Furthermore, Cihra is estimating that Apple will be reporting to have shipped 35 million iPhones for the June quarter when it announces its third quarter of fiscal year report on July 22.
Meanwhile, Wells Fargo Securities estimates that Apple will be reporting another record breaking quarter with a forecasted shipment of 36.5 million iPhone devices for its third quarter of fiscal year.
Analyst Maynard Um said that Apple may report revenue amounting to $38.2 billion in the June quarter on its earnings call on July 22. The company will be breaking its 31.2 million shipment of iPhones reported in 2013.
With Apple adding 16 new iPhone carriers, the company has now a total of 332 carriers worldwide. The iPhones were also launch in four countries namely Brunei, Kosovo, Kazakhstan and Lebanon.
Um is also estimating that Apple will be reporting 12 million iPads sold, 3.9 million Macs, and 1.9 million iPods in the quarter.
He is also seeing Apple's gross margins reaching 38.3 per cent, beating the company's own estimate of 37 to 38 per cent with earnings per share of $1.27.
However, Um remained "bearish" on Apple stock, maintained his "market perform" rating of the stock, with a valuation range of $86 to 06 per share. He noted that the smartphone market growth opportunity is diminishing with a space only left for low-end products to dominate.