Wall Street analyst says iPhone X sales are below expectations

Wall Street analyst says iPhone X sales are below expectations
Karl Ackerman is an analyst with the Wall Street securities house of Cowen & Co. Ackerman has penned a note to clients that says initial demand for the Apple iPhone X "has been below initial expectations as users appear to have gravitated toward the previous iPhone models." The analyst adds that all three 2017 iPhone models, which include the Apple iPhone 8, Apple iPhone 8 Plus and Apple iPhone X are selling at a decent clip, but sales are not strong enough to say that Apple is in the midst of a supercycle.

Ackerman estimates that in the current three month period that ends this month, which is Apple's fiscal first quarter of 2018, the tech giant will ship 79 million iPhone units. That would be a slight gain over the record 78.29 million it delivered during the first fiscal quarter of 2017. For Apple's fiscal second quarter of 2018, which runs from January through March, the analyst expects to see Apple ship 56 million iPhone handsets compared to 51.2 million for the same quarter last year.

Apple could set a new record for iPhone shipments during the current quarter. We should know if this has taken place on January 30th, 2018, which is when Apple is expected to announce the results of the current quarter.

source: PocketNow

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