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Apple: Street Not Factoring iPhone Expansion, Says Piper

August 22, 2008
by Tiernan Ray
Blogger, Tech Trader Daily, Barron's

Tiernan Ray

Piper Jaffray analyst Gene Munster writes this morning that Apple’s (AAPL) expansion today of the iPhone’s availability to 21 additional countries, nearly doubling the total, will lead to a 78 percent increase in addressable buyers, and that the resultant rise in iPhone unit sales is not being taken account of in Street estimates for Apple.

“Our iPhone estimate of 4.1 million units in the Sept. [fiscal third] quarter is likely conservative,” writes Munster. (Munster actually raised his estimate for this quarter to 4.47 million units last week. Not sure why he uses the old estimate in today’s note.)

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