Morgan Stanley is sticking it to the man and strongly believes iPhone sales will double in 2009. Analysts are saying they expect 27 million iPhone sales to be reached during the 2009 calendar year. “We believe the market generally expects a doubling of iPhone units with the lower price point ($199), and we believe this is realistic, if not conservative,” writes one analyst. The reason for these statements comes from the much lower iPhone price tag as well as a much expanded distribution of the device. Morgan Stanley now puts Apple’s stock target price at $210, up from $185.
Morgan Stanley isn’t taking this prediction lightly, they have thrown around some pretty big numbers and are expecting Apple’s iPhone 3G to be a huge hit. With this sort of backing, it has to give Apple more confidence. When that iPhone 3G comes out July 11th, it will be greeted with long lines of people at almost every store. It’s going to be huge, and Apple is going to rake in quite a lot of money.