Apple (AAPL) Initial iPhone 6S/6S Plus Shipments Top Views - Stifel

Stifel analyst Aaron Rakers provided some initial thoughts on news from Apple (NASDAQ: AAPL) that initial weekend shipments of the new iPhone 6s / 6s Plus topped 13 million.

The analyst was positive on the numbers as they were above the firm's 12 million high-end estimate.

Rankers notes Apple’s press release specifically calls out that sales completed by Saturday, September 26 will be included in F4Q14 (Sept) results, while sales completed on Sunday, September 27 will be included in F1Q16 (Dec) results.

Comparing to prior product cycle metrics:

1. iPhone 4 (6/24/10 launch): >1.7 million; initial availability across five countries,
2. iPhone 4s (10/17/11 launch): +4 million; initial availability across seven countries,
3. iPhone 5 (9/24/12): +5 million; initial availability in eight countries (Hong Kong added), 4.) iPhone 5s / 5c (9/23/13): ~9 million; initial availability in eleven countries (China added for first time in initial wave; ex-China Mobile),
4. iPhone 6 / 6 Plus (9/22/14): ~10 million; availability across ten countries (China not included in initial availability; China availability commenced on October 17, 2014 w/ pre-order reports suggesting +20 million).

Further the analyst notes Apple’s reported initial weekend shipments over the past three iPhone product cycles (5 , 5s / 5c, and 6) have accounted for 19%, 27%, and 26% of the total September quarter shipments.

The firm maintained a Buy rating and price target of $150.00

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $114.71 yesterday.

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