Canaccord Genuity’s Mike Walkley this morning reiterates a Buy rating on Apple (AAPL) shares after raising his estimates for the company’s sales of the iPhone this quarter from 29 million units to 30.5 million units.
“Our November checks indicated strong global iPhone sales with Apple share gains versus Android smartphones in the US and Western Europe,” writes Walkley.
Walkley also cut his estimate for the iPad this quarter, to 13 million units from 14 million previously, which he attributes to the expectation both that inventory is being drained ahead of the introduction of the next iPad, in March, but also to heightened competition from Amazon.com’s (AMZN) “Kindle Fire” tablet.
Walkley raised his EPS estimate for this fiscal year to $34.16 from a prior $33.52.
Apple shares this morning are down 71 cents at $392.30 in early trading.
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