Even more bullish is Jefferies analyst Peter Misek. All you need to know about Misek is that he should change his name to Mr. iPhone. This guy can be hit or miss regarding the accuracy of new product predictions like Apple TV but his iPhone forecasts are as good as any. He was the analyst responsible for alerting the street to the reality of an iPhone 4S rather than the iPhone 5, it was his December report from Asia that alerted investors to Apple's plan of offering multi-colored iPhones in the summer of 2013, and he also was near the lowest of analyst estimates for iPhone sales last quarter when Apple missed consensus. Apple didn't miss Misek's number, he predicted sales of 26 million units and actual sales came in at 26.9 million. Misek is a well educated analyst who understands what it means to under-hype so that Apple can be judged fairly.
With consensus expecting 47.6 million iPhone units for the holiday quarter, Misek is reporting from his latest trip to Asia that Apple executed on its plan to build 60 million units. His official quarterly forecast is for sales of 53 million. Anything above 50 million will cause a Wall Street frenzy. With Apple ramped for the Chinese New Year we expect Q1 2013 to perform well. His iPad number is at 24 million for the holiday quarter. If Misek's projections are close to actual results, we're looking at 43% iPhone growth and 55% iPad growth which will result in EPS that is even higher than the original analyst estimates of $15.44 that we saw 90 days ago.