Apple said to cut orders for 2018 models, increase orders for iPhone 8/8 Plus and others
According to StreetAccount, a couple of securities firms are fine-tuning their thoughts on what is going on currently with the Apple iPhone. Longbow Research has apparently conducted a check of Apple's iPhone supply chain and concludes that Apple is cutting its orders by 20% to 30% for the iPhone XS Max and iPhone XR. On the other hand, Longbow says that Apple is increasing orders for the iPhone 8, iPhone 8 Plus and some other older models.
JP Morgan also had some bearish data to disseminate about Apple. The securities and banking house says that it too expects Apple to cut back on iPhone orders, but also mentions that the company is having issues expanding its profit margins. JP Morgan is now expecting the iPhone XR to account for 39% of new iPhones sold in the second half of 2018, down from its previous forecast of 47%.
Additionally, Reuters is reporting today that Apple's major supplier for the technology used in Face ID, a company called Lumentum, has cut its forecasts for revenue and profits. The company said that it received reduced orders from a major tech firm that is one of its largest customers for 3D sensing components. Analysts said that this could only refer to Apple.
While it isn't unusual to hear that Apple is cutting orders for its latest handsets from time to time, investors believe a real crisis is at hand. Apple's shares are down more than $9 this morning, crossing under the $200 mark for the first time in months.
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