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It is becoming increasingly clear that the latest Apple iPhones (AAPL) do not cause the kind of sales increase expected by Wall Street. An badyst said the iPhone XR stocks were "inflated", resulting in a reduction in production plans and a decline in Apple stocks.
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JPMorgan announced Monday that it was expecting a modest drop in iPhone shipments for both the 2018 and 2019 calendars. It has reduced its earnings forecast on its forecasts iPhone sales down.
Samik Chatterjee, an badyst at JPMorgan, lowered his price target on Apple stocks to 270 from 266 to 266, while maintaining his overweight position. Apple stocks fell 4.8%, nearly 194.75, on the stock market today.
He blamed the weak macroeconomic backdrop on emerging markets and the "lukewarm" iPhone XR demand for iPhone sales below expectations.
The better-than-expected demand for the high-end iPhone XS and XS Max partially offsets lower sales of the mid-range iPhone XR, he said.
The production of the iPhone XR downsizes, which hurts suppliers
Longbow Research said Monday production cuts "hit component suppliers." Longbow considers Apple's stock as neutral. [19659004] Spot checks with suppliers last week showed a 20% to 30% reduction in iPhone orders, said badysts at Longbow, Shawn Harrison and Gausia Chowdhury. iPhone XR and XS Max Apple has increased its orders for cheaper and older iPhones, including the iPhone 8.
Internet search trends for iPhone in China "have collapsed for October, "they said.It is the sign of a" declining Chinese demand. "
The story of an Apple iPhone® showing cracks & # 39;
" The history of the iPhone shows fis sures with contacts citing weaker year orders in iPhone and from Baidu (1945).
The component supplier for iPhone Lumentum Holdings (LITE) on Monday reduced 17% its tax revenue forecast for the second quarter and 17% its earnings outlook. 25% after an anonymous customer, suspected to be Apple, has significantly reduced his orders.
Last Thursday, another supplier of parts for iPhone Skyworks Solutions (SWKS) announced forecasts for the December quarter significantly lower than the Wall Street targets. . Skyworks blamed lower forecasts for high-end smartphone sales and general weakness in China.
KeyBanc Capital Markets said its latest survey of mobile operators indicated an online demand for the iPhone XS and XS Max. But "the sales of the iPhone XR have been disappointing," badyst John Vinh said Friday in a note addressed to customers. He called the iPhone XR stocks of "bloated".
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iPhone XR sales are called "lower than expected"
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