One more analyst has backed rumours that the iPhone 5 will be launched in September, three months after its expected debut at the Worldwide Developer conference in San Francisco in June 2011.
Keith Bachman of Financial services provider BMO Capital expects Apple to generate $97.07 billion in revenue according to Barrons, short of the $100 billion that many have predicted and $22.30 in earnings per share.
In addition, he says that the iPad will experience a material increase in shipments in the second quarter of the year with 6.1 million Apple iPad sold in the quarter ending on the 31st of March.
He adds that there will be a "limited upside" until June because of constraints in the iPad supply chain, a “reasonable but not a blowout” introduction of the Verizon iPhone 4, which is taking away resources both from the iPhone 5 and the iPad 2 and the aftermath of the Japan Earthquake & Tsunami combo.
Still, Bachman like others expect Apple stock to live up to its outperform rating and reach a price target of $410. Apple shares are currently up by 0.11 per cent in after hours transactions to $348.90 after a rather tame 48 hours which saw the stock barely move.
Yesterday, another analyst,Peter Misek, theorised that the iPhone 5 would be launched in September rather than in the second quarter of 2011.