iPhone News Updated

Morgan Stanley says Apple’s iPhone sales may double in ‘09

Morgan Stanley raised its price target on Apple Inc shares to $210 from $185, saying it expects the company’s iPhone unit sales to double in 2009 at the new $199 price point.

“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,” the investment bank said in a note.

Morgan Stanley expects 27 million iPhones to be sold in calendar year 2009 with an average revenue of $550 per unit.

The investment bank said Apple’s operating leverage remains understated and the mass market price and distribution of the new 3G iPhone will be a key driver of higher margin software and service revenues over time.

Shares of Apple closed at $181.43 Tuesday on Nasdaq.

© Reuters 2008

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iPhone to cost at least $60 per month

Gadget geeks got a glimpse Friday of just how much it’s going to cost to use Apple Inc.’s iPhone, set to be unleashed in the Canadian marketplace July 11, as Rogers Wireless revealed its pricing plans for the hotly anticipated device.

Rogers is offering up four voice-and-data combo packages for the iPhone 3G, ranging in price from $60 per month to an eye-popping $115 a month, all requiring a three-year contract.

Pricing includes unlimited Wi-Fi access at all Rogers and Fido hotspots, the company said. Caller ID will cost an extra $15 to $20 per month, depending on the package.

The price on the phone — touted as being twice as fast as the first iPhone launched last year — is $199 for the eight-gigabyte model or $299 for the 16-gigabyte version.

Kelvin Gan, who’s thinking about buying a new iPhone next month, said Rogers’ priciest plan is what most avid web surfers would likely require in order to enjoy full functionality of the new iPhone.

“But $115 is a pretty steep price for the plan,” he said.

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