Apple's best November ever saw supply chain sales spike 17% in one monthApple remains on track to report its best quarter in company history, with new data from the company's supply chain showing sales up 17 percent month over month in November.
Brian White of Ticonderoga Securities watches the "Apple Barometer," a proprietary index of various Taiwan-based suppliers that derive a significant portion of their revenues from Apple. The latest data from the Apple Barometer shows supply chain sales up 17 percent month over month, a number well above the average 2 percent month over month growth seen over the last six years.
In fact, White said that the numbers show Apple on track to post the company's best November in history. That would be in line with expectations, as the newly launched iPhone 4S, the hot-selling iPad 2, and growing popularity of Apple's Mac platform are expected to propel the Cupertino, Calif., company to new heights during this holiday season.
Company officials even said as much in Apple's last quarterly earnings conference call in October. Chief Financial Officer Peter Oppenheimer told investors he expects Apple to set new company records for both the iPhone and iPad in the December quarter.
White said the strong performance of Apple's supply chain in the month of November follows a relatively weak October that prompted some investor concern. But reduced shipments in the month of October, particularly for the iPad 2, are believed to be due to the fact that Apple ordered an abundance of units in the preceding quarter.
"After negative supply chain data points dragged Apple's stock lower in November, we believe today's Apple Barometer print will provide fuel for the stock to move higher in the near term," White wrote.
On Topic: Investor
- Apple's 'fundamentally different' iPhone 6 expected to buck seasonal sales trends
- FBR Capital Markets gives Apple trillion-dollar valuation with $185 price target
- Citi lays out five reasons why Apple stock, growth potential is undervalued
- UBS declares Apple a 'special' kind of investment, says 'full ramifications' of iPhone are yet to come
- Rockstar patent sale could net Apple $392 million in March quarter