Sales numbers from Cantor Fitzgerald’s Apple Barometer show a month over month increase of about 10 percent, according to analyst Brian White. He collected the last of the data for the September forecast from his Apple Barometer, which consists of Taiwan-based suppliers with a high percentage of sales from Apple Inc. (NASDAQ:AAPL).
Apple’s growth approaches averages
According to White, the suppliers’ growth was about 10 percent in September, which was toward the high end of his previous estimate of between 9 and 10 percent. He said this is almost in line with the average increase of 11 percent over the last eight years. However, the data for September is skewed somewhat because Apple didn’t shift the iPhone launch back from June or July until 2011.
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He also notes that this year’s September sales numbers indicate that Apple Inc. (NASDAQ:AAPL) is doing much better with this iPhone launch than it did with last year’s launch. Last September, the barometer’s growth was just 3 percent month over month.
Apple supplier Hon Hai reports strong September sales
White said Hon Hai Precision, which is the biggest manufacturer of Apple products, reported a 20 percent increase in September sales month over month. He said that’s slightly better than the average 19 percent increase over the last eight years. He did not include Hon Hai in his Apple Barometer.
Looking ahead to Apple products
White also met with some key tech suppliers while traveling in Taiwan and Asia, and he said after his conversations with one supplier, he’s convinced that a bigger iPhone 6 will become a reality next year, possibly even in by the second quarter of the year.
Another possible product the suppler discussed with him was the rumored iWatch. The supplier suggested that it would be “much more” than an extension of an iPhone and that it would serve as “a multi-purpose gateway in allowing consumers to control their home.” In other words, he suggested that it would provide control over heating and cooling systems, lights, audio, video and more. White still believes that the iWatch will launch by the end of the 2014 calendar year.
White maintained his Buy rating and $777 per share price target on Apple Inc. (NASDAQ:AAPL).