Wednesday, 19 December, 2018

Apple iPhone XR shipment forecast slashed by analyst Ming-Chi Kuo

More Evidence Emerges of Soft iPhone Sales Apple, suppliers tumble as signs mount of weak iPhone demand
| 14 November, 2018, 05:35

Lumentum is the main supplier of the Face ID technology in the latest generation of iPhones, and IQE supplies wafers or thin layers of silicon-based material used in making computing chips to the USA company. Rival Pegatron Corp fell more than 5 percent but later recouped losses.

"Longer-lasting products could lead to higher customer satisfaction, potentially enable Apple to charge higher prices for its devices, and would help fulfill the company's environmental objectives", Toni Sacconaghi, an analyst at Sanford C. Bernstein & Co., wrote Monday in a note to investors.

"For Apple, the iPhone shipment has reached its peak".

Kuo believes consumers could also be waiting for Apple to release a cheaper iPhone XR.

Most of the new iPhones are priced at $999 and up, with the tricked-out iPhone XS Max going for as high as $1,449. That makes them more likely to cut prices when Apple comes back to the negotiating table. As Reuters reports today, many of Apple's suppliers "have lowered numbers due to their unnamed 'largest customer, ' which is Apple".

"Up through the first half of 2019 we likely won't see any breakthrough".

Lumentum, which supplies FaceID components for the iPhone XS, XS Max, and XR, has reduced its profit and revenue forecasts thanks to reduced orders from Apple.


In Asia, Japan Display Inc. slashed its forecasts for sales growth and operating margins, citing volatile customer demand.

Apple shares were trading down 4.2 percent early Monday afternoon, at $195.90, wiping close to $40 billion off the company's market cap.

Apple said earlier this month it would stop giving the number of iPhones, iPads and Mac computers it sold in a quarter, a closely watched metric and a key indicator of the company's success.

Analyst Ming-Chi Kuo has been keeping his finger on the pulse of Apple component suppliers and that pulse is slowing – the total expected shipments of the iPhone XR have been revised down by as much as 30%. In China, Lens Technology Co. dropped 2.5 percent.

"'(This) indicates that the company itself is not confident about its performance at the moment", said Park Jung-hoon, a fund manager at HDC Asset Management, which owns Samsung Electronics shares.

Faced with a maturing smartphone market, Apple's strategy has been to entice customers to pay more for phones with new features such as facial recognition and more vibrant screens.

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