Analysts Not Worried About Verizon, AT&T iPhone Sales Before Apple Earnings

Shares of Apple

have been moving lower (currently down over 2% on the session) in recent days after earnings releases from carriers Verizon

and AT&T

have called into doubt the number of iPhones the company may have sold. However, analysts don't appeared to be bothered by the release. In a note released earlier today, Jefferies acknowledged that recent iPhone sales have been weaker than expected, lowering their estimates for shipments to 28-30 million, down from 32 million. Still, they remain bullish on the company, stating that the carriers are not cutting subsidies for the iPhone, while demand for the iPad remains largely underestimated. Piper Jaffray also acknowledged that iPhone sales are likely to come in weak, but remained bullish on the stock. They stated that sales of the 4S in China have been strong, and could prove to be a wildcard in the companies overall iPhone sales total. Currently, shares of Apple are trading near $560, with just over an hour to go before the company is expected to release earnings.