Apple’s Q1 iPhone sales may hit 50 million as iPad sales climb to 24 million

Shares of Apple (AAPL) are down more than 20% in the past three months from highs in the $700 range. Despite guiding for a record holiday quarter, Wall Street continues to be split on Apple’s future. Some analysts expect the company’s success to continue while others have argued that “people overbelieved in Apple.” Rob Cihra of Evercore Partners thinks the company will report record sales on January 23rd when it posts its fourth quarter earnings results. In a recent note to investors picked up by Apple Insider, the analyst estimated that Apple could report having sold 50 million iPhones in the fiscal first quarter, representing a 35% year-over-year increase and 86% growth from the previous quarter. He also believes the company may have

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