“Even Worse Than iPhone 8”: JPM Warns Of Tumbling iPhone X Orders, Slashes Production Forecast By 50%
by Tyler Durden
ZeroHedge.com
Tue, 01/23/2018
“Has the Apple gone sour?”
That’s what JPM’s tech/semi analyst Narci Chang wants to know after looking at recent iPhone X orders where he sees “more signs of weakening” and is revising his forecast for iPhone production to plunge by 50% Q/Q, “even larger than the decline of the iPhone 8/8+.”
“Our EMS forecast for total iPhone is now 55mn in 1Q (vs 60mn before), and iPhone X is now 20mn in 1Q (vs 30mn before).” – JPM
Unfortunately for AAPL fans, this is not some year-end calendar quirk, but instead JPM believes the “weakness will continue in 1H18 as high-end smartphones are clearly hitting a plateau this year.
Noting that JPM downgraded the Apple Supply Chain in mid-September given that: 1) iPhone X expectations are largely priced in, and 2) sustained growth into the 2018 iPhone cycle is unlikely, given limited design changes in the next cycle (click for podcast and note), Chang warns that “now we believe the peak has arrived even earlier than our expectations.”
The Rest…HERE
