上周五，瑞银集团（UBS）的史蒂芬·米卢诺维奇写道：“（他的）一些中国线人认为，iPhone 5的销量将不及iPhone 4S。”两天后，花旗集团（Citigroup）的格伦·杨写道，供应链订单削减的报道“令人质疑iPhone 5的实力”。

    在此之后，苹果（Apple）宣布上周末在中国大陆售出超过200万部iPhone 5，超过此前iPhone在中国上市的销量——包括2012年1月在中国首发当日引发骚乱的iPhone 4S。

    本周一，大多数跟踪苹果公司的分析师都改变了论调。他们发给客户的报告摘录如下：（最新的排在上面）

    加拿大皇家银行（RBC）的阿米特·德莱纳里：iPhone 5售出200万部。“这个数字创下了在中国首发周末的销量记录，而苹果公司在今年年底前还将陆续登陆100个国家。在我看来，这是一个利好，因为该公司继续超过此前的iPhone 4S发售业绩，为第四季度的出色表现蓄势……鉴于中国的智能手机销售基础较小，我们认为这次创纪录的销量对苹果公司而言是个利好。特别是此增长不包括拥有约7亿用户、7,560万3G客户的世界第一大移动运营商中国移动（China Mobile）。我们此前曾经预测，若与中国移动达成合作，中国移动头一年将售出1,000万到16,00万部iPhone，这将使苹果的每股利润增加约3美元，股价上涨约45美元。”

    投资银行Piper Jaffray的吉恩·蒙斯特：需求依然强劲，推出低价机型不可避免。“鉴于过去一周围绕苹果的种种消息，我们认为主要有三点需注意。首先，根据我们在美国的研究，以及上周末iPhone 5在中国售出200万部这一事实，我们相信对iPhone的需求依然强劲。其次，对于iPhone在2013年的表现，我们无意修改此前的预测。在新款iPhone发布后的一个季度里，供应商削减产量乃是常事。尽管有些供应商称三月份季度产量环比将下降20-30%，很难判断渠道中本身有多少库存，因此难以对三月份的产量做出假设。第三，我们最独特的看法在于，我们认为围绕iPhone产量的种种猜测恰恰表明苹果需要推出针对新兴市场的、定价较低的机型。我们预计该设备最迟将在2014年面世。

    On Friday, UBS's Steven Milunovich wrote that "some of [his] Chinese sources do not expect the iPhone 5 to do as well as the iPhone 4S." Two days later, Citigroup's Glen Yeung wrote that reports of supply-chain order cuts "bring into question the strength of iPhone 5."

    That was before Apple (AAPL) announced that it sold more than 2 million iPhone 5s in mainland China last weekend, beating its previous Chinese iPhone releases -- including the iPhone 4S that triggered launch-day riots last January.

    On Monday, most of the analysts who cover the company were singing a different tune. Excerpts from their notes to clients below: (New ones on top)

    RBC's Amit Daryanani: Two Million iPhone 5 Sales. "This marks a record setting sales weekend in China and the Company remains on track to launch in 100 countries by the end of the year. In our view, this is a positive as the company continues to outpace the previous iPhone 4S launch setting up for a positive Dec-qtr... With a smaller Smartphone selling base in China we believe the record sales are a positive for the company. Notably, this growth excludes China Mobile which is the largest mobile operator in the world with ~700M subscribers and 75.6M 3G customers. We previously estimated that the addition of China Mobile could add ~$3 to Apple's EPS or ~$45 to its stock price with sales of 10-16M units in its first 12 months of availability."

    Piper Jaffray's Gene Munster: Demand Remains Strong, Lower Priced Phone Inevitable. "Given the recent noise around Apple over the past week, we believe there are three core points to take away. First, based on our work in the US and the 2 million iPhone 5s sold in China this past weekend, we believe demand for iPhone remains strong. Second, for iPhone in 2013, we remain comfortable with our iPhone estimates. Typically, suppliers reduce production in the quarter following a new iPhone release. While some suppliers suggest a 20-30% q/q step down in March, it is difficult to say what inventory already exists in the channel to make an assumption on March units. Third, and most uniquely to our point of view, we believe the bigger picture around all of the iPhone unit speculation points to the fact that Apple needs to introduce a lower priced device for emerging markets. We expect the device by 2014 or potentially earlier."