Still more Wall Street-watchers are raising their estimates for Apple’s iPhone shipments in light of recent strong performance. In a note to clients released Tuesday, Susquehanna increased its iPhone shipment estimates for Apple’s fiscal first quarter of 2012 to 30.3 million devices, up from 27.3 million.
The more positive outlook is a result of “positive sell-through data” as well as checks with supply-chain sources, according to Susquehanna. Those checks indicate that component constraints have largely been dealt with, including those resulting from severe flooding in Thailand, at least with regard to the parts Apple needs for the iPhone.
Susquehanna notes that demand for the iPhone 4S remains strong, with shipping times still at between one and two weeks online, and “stores generally sold out for in-store reservation and pickup,” based on its research. The firm also raised its price target for Apple’s stock, based on what it anticipates will be a strong holiday sales season for the iPad, as well as the promise of new iPhone and iPad releases in the new year.
Susquehanna’s voice joins the chorus of analysts calling for a solid performance this quarter from Apple’s iPhone and the company in general. Apple itself is also confident that it will break records this holiday season in terms of smartphone device sales. We’ll find out for sure in January when it announces its results for the current quarter.