Analyst returns to shovel more dirt on the Apple iPhone X's grave

Analyst returns to shovel more dirt on the Apple iPhone X's grave
Nearly two weeks ago, Mirabaud Securities analyst Neil Campling pronounced the Apple iPhone X "dead." This was based on TSMC's inventory of chips, which was reportedly at an all-time high. In addition, TSMC's recent earnings report included lower revenue forecasts for the remainder of the year. Sales to Apple are said to account for 20% of TSMC's revenue and the company blamed the weakness on sales of an unnamed high-end phone, which Campling said was the iPhone X.

Today, just minutes before Apple is to announce its fiscal Q2 earnings and reveal how many iPhone units it sold in the period, Campling is back to shovel more dirt on the iPhone X's grave. Pointing out slower growth in the just reported first quarter earnings released by a company called Cognex, Campling says that this is a further sign that Apple has decided to kill its tenth anniversary model.

It turns out that technology made by Cognex is used by Apple's contract manufacturers to perfectly fit the OLED panel on the iPhone X. Similar to TSMC, Apple accounts for 20% of Cognex's gross revenue. Campling says that the slowdown at Cognex is a sign that "Apple is stepping back from the iPhone X production cycle." Cognex reported Q1 earnings on Monday that were up 22% year-over-year, down from the 40% growth reported for the first quarter of 2017. In addition, Cognex lowered its forecast for second quarter revenue below Wall Street expectations.

With his perceived death of the iPhone X, Campling sees Apple coming out with a cheaper model of the phone later this year. Meanwhile, Ming-Chi Kuo, the famed KGI Securities analyst who is leaving the firm, expects Apple to unveil three new models next year. He says two will be iPhone X sequels with a 5.8-inch and 6.5-inch OLED displays, while the third will be a cheaper model with a 6.1-inch LCD screen.

source: CNBC

Related phones

iPhone X
  • Display 5.8" 1125 x 2436 pixels
  • Camera 12 MP / 7 MP front
  • Processor Apple A11 Bionic, Hexa-core, 2390 MHz
  • Storage 256 GB
  • Battery 2716 mAh(21h 3G talk time)




Posts: 2817; Member since: Oct 03, 2012

The X sucks anyway!

2. EC112987

Posts: 1216; Member since: Nov 10, 2014

It actually doesn’t

10. Phullofphil

Posts: 1843; Member since: Feb 10, 2009

It sold well I don’t understand why it’s said to be doom and gloom. If Tcms or whatever has that many chips it’s there own fault. I am sure they mad a lot. All the jr stock market cares about is improving over last quarter of last year. Given they are setting records you have to realize that even if they come close than that would be a success

4. NateDiaz

Posts: 1093; Member since: Mar 03, 2018

Apple article and no comment from SIGPRO, can't happen.

8. Phullofphil

Posts: 1843; Member since: Feb 10, 2009

Not like you do

14. Cat97

Posts: 2011; Member since: Mar 02, 2017

It is actually the most compact phone with notched screen, and the only one that actually shows genuine effort from its company to truly look bezel-less.

21. sgodsell

Posts: 7605; Member since: Mar 16, 2013

Too bad the software never caught up to Apples bezel-less display. Apples solution is to FORCE it's developers to support the iPhone X notch, or your app will be rejected. At least other notched devices have added software support to allow ALL existing apps to work, or to use a notch.

3. midan

Posts: 3206; Member since: Oct 09, 2017

"We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter."

5. c.m.s

Posts: 239; Member since: Dec 10, 2017

So much for iPhone X selling badly. It's the same story every time, analysts proved wrong once again :) And and other media is eating their false estimations/speculations as facts with it's doom and gloom articles.

6. apple-rulz

Posts: 2198; Member since: Dec 27, 2016

Get rid of the notch and put a fingerprint scanner back on or at least get rid of having to swipe concurrently when using FaceID and THAT will be an iPhone worth buying. Let's just chalk up the iPhone X to a painful learning experience.

9. Phullofphil

Posts: 1843; Member since: Feb 10, 2009

Get used to it don’t get stuck in the past.

11. BlackhawkFlys

Posts: 931; Member since: May 07, 2014

Yes, get used to it. It's Apple they don't give a Fu*k about your experience. If they say it's right, it's right. Screw the customers.

15. Cat97

Posts: 2011; Member since: Mar 02, 2017

And turn it into a run-of-the-mill Android half-assed design with rear fingerprint sensor ? No thanks.

17. Nimbus

Posts: 442; Member since: Apr 02, 2018

Right apple rulz

7. NorFoster

Posts: 4; Member since: Dec 18, 2017

Strong iPhone numbers in the recently ended quarter.

12. Joosty

Posts: 491; Member since: Mar 14, 2013

Enjoying my time with the X, would buy again.

13. nwright94

Posts: 211; Member since: Oct 14, 2014

It’s my first iPhone after a few Galaxy phones and Nexus, I’m personally enjoying it!

16. Jrod99

Posts: 781; Member since: Jan 15, 2016

It’s dead but going ahead with the sequel? Ok.

18. darkkjedii

Posts: 31744; Member since: Feb 05, 2011

While I didn’t keep the iPhone X, it’s still a great device, and if that 6.5 inch model has true split window, picture in picture, and pencil support...I’ll be buying and keeping.

19. Jrod99

Posts: 781; Member since: Jan 15, 2016

Doubt they add those features. I would like the pencil support. I was doing lease paper work for rental today and had option to signed on the screen. The Note would have been perfect. Signature not pretty with finger.

20. Humanoid

Posts: 1226; Member since: Dec 11, 2017

Design is worse than the price...

22. worldpeace

Posts: 3135; Member since: Apr 15, 2016

And why did you use that as this page URL? :-/

23. cocoy

Posts: 464; Member since: Oct 30, 2015

The reason for it's lower sales volume compared from previous models are price and the absence of FPS.

25. tokuzumi

Posts: 1989; Member since: Aug 27, 2009

If the X is doing so poorly, how has transaction prices of the iPhone increased since the X, and why are the rumors pointing to Apple going all in on the X style phones this year? I'm not a fan of Apple or their products, but it just sounds like everyone wants to hate on this phone.

26. xfire99

Posts: 1207; Member since: Mar 14, 2012

Conspiracy theory. Apple forced company to fire Ming, since he'starting to reporting negative about Apple and ofc Apple can't allow him to continue with it. Also banned him to make anupy further analysis about Apple. As long it's positvie reports and Apple won't care, but as fast it's negative and they will act as assholes. It happened to Computer Bild about #bendgate and that was a statement go all media sites. If any site reports negative and you are out of luck.

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