Analyst says his colleagues are too bullish on the Apple iPhone X

Analyst says his colleagues are too bullish on the Apple iPhone X
An analyst by the name of Nicolas Baratte works for Hong Kong investment bank CLSA. Baratte says that any one of his colleagues forecasting fiscal Q1 Apple iPhone X sales greater than 35 million units, is too bullish on the tenth anniversary device. Baratte's comment came after Apple reportedly cut its expectation of iPhone X sales during its fiscal second quarter to 30 million handsets from 50 million. Chinese tech stocks plunged following the release of this news.

The CLSA analyst says that anyone who wanted an iPhone X last month has already purchased one, meaning that demand has been satiated. However, both Baratte and Piper Jaffray analyst Michael Olson agree that Apple can jump start the iPhone X market by cutting prices of the high-end model.

Olson, who is bullish on Apple unlike Baratte, expects the tech giant to offer a lower-priced iPhone X model this year, and an iPhone X Plus premium variant as well. That dovetails with earlier reports that Apple will offer a 6.5-inch iPhone X later this year, a lower priced iPhone X-type model with an LCD screen, and an iPhone X sequel with a 5.8-inch OLED display.

source: CNBC

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