Apple (NASDAQ:AAPL) suppliers saw an unexpected jump in monthly sales in July, sparking analysis that the company is preparing a slew of new products. In a research note written for clients on Thursday, Topeka Capital analyst Brian White said preliminary July sales measured by his firm’s Apple Monitor rose by an estimated 14 percent month-over-month, or nearly twice the average increase of 8.5 percent over the past seven years.
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“This July represents the strongest month-over-month sales growth of any July we have on record over the past eight years for the Apple Monitor,” White wrote. “[It] was well above the 7 percent growth experienced last July, supporting our view of an earlier launch of the iPhone 5 versus the iPhone 4S last October.”
Apple Monitor is a set of analytic tool that track sales trends across leading Apple suppliers. Not a standalone measurement, it is used by the firm to supplement White’s own research, according to Apple Insider.
White said all signs pointed to “the biggest second-half product launch in Apple’s history,” potential leading to a spike in the company’s stock price. “With the iPhone 5 launch and iPad Mini on the horizon, along with the potential for an Apple TV in the coming quarters, we believe Apple’s stock is prepared for the next major leg up that could propel Apple to our $1,111 price target over the next year,” the analyst wrote.
White is also looking forward to the potential addition of China Mobile (NYSE:CHL) to Apple’s carrier lineup early next year in China.
Shares of Apple (NASDAQ:AAPL) finished Friday at $621.70, up 0.16% for the day.
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