iPhones Could Drive a Third of Apple's Revenue Next Year

Good news for Apple (AAPL) fans. In 2009, iPhone sales should start to become material to the company’s overall financial performance — possibly very material.

Morgan Stanley expects iPhone sales to at least double in 2009, to 27 million units. At $200 a phone, that’s $5 billion of revenue. Despite the recent price cuts, Morgan Stanley uses an average unit price of $550 per phone. This seems far too high to us, but 27 million units at this price would yield almost $15 billion of revenue.

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