Apple stock up even if iPhone sales views are cut

More Wall Street analysts lowered their iPhone sales estimates Tuesday after reporting on production reductions Apple(AAPL) partners in the supply chain. Apple's shares had initially declined, but later gained a profit.


Goldman Sachs analyst Rod Hall reduced his iPhone sales for Apple & # 39; s fiscal 2019 by 5.5%. He now expects Apple to sell 202.9 million units in the fiscal year that began on 30 September. He previously predicted a sale of 214.8 million units.

He also trimmed his 12-month price target on Apple shares to 209 of 222 and repeated his neutral rating. Apple shares rose by 1.4%, nearly 196.80, in morning trading on the stock market today.

Hall made the changes afterwards Lumentum Holdings (LITE) lowered its tax revenues and earnings guidance in the second quarter on Monday as a non-named customer, presumably Apple, significantly reduced its orders. Lumentum makes 3D sensors that support facial recognition technology on the latest iPhones from Apple. Other iPhone component suppliers have lowered their estimates, including Japan Display and Skyworks Solutions (SWKS).

Hall reduced sales estimates for the high-end iPhone XS and XS Max and the midrange iPhone XR. But he increased his estimates for older, cheaper iPhone models.

IPhone Chipmaker Qorvo cuts prognosis

On Tuesday, iPhone chip supplier Qorvo (QRVO) lowered the revenue and profit forecast for December in December as a result of recent changes in the demand for flagship smartphones.

It at Greensboro, N.C. Based company now expects sales in the fiscal third quarter from $ 800 million to $ 840 million. This is due to the earlier target range of $ 880 million to $ 900 million. Qorvo receives around 40% of its revenue from Apple business.

"Qorvo's forecast of demand from China-based mobile phone manufacturers remains measured and largely unchanged," the company said in a press release. "Qorvo's current forecast of demand for markets served by Qorvo's Infrastructure and Defense Products segment is within the range of its previous expectations."

Qorvo also lowered its earnings per share forecast to $ 1.70 from $ 1.95 in the quarter of December.

Analyst predicts decline in iPhone sales

TF International analyst Ming-Chi Kuo lowered his estimates for iPhone XR shipments considerably, up to 70 million from 100 million units, until September 2019 reported 9to5Mac.

Kuo retained its iPhone sales forecast for December of about 80 million units. He believes that higher sales of XS handsets and older models will compensate for the weakness in XR sales. Apple sold 77.3 million iPhone units last year in the quarter of December.

But Kuo is of the opinion that the sale of iPhone units will be negative in the quarter of March. He estimates that Apple will ship 47 million to 52 million iPhones in the quarter of March, compared with 52.2 million in the same period last year.

Apple announced earlier this month that it will no longer report the sale of iPhone units.

JPMorgan has Monday lowered the sales forecasts for iPhone for this calendar year and the next two years. It reduced its iPhone sales forecast by 2 million units for this year to 214 million handsets. It lowered its expectations for 2019 by 10 million units to 208 million and by 2020 by 10 million units to 210 million.


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