JP Morgan cuts estimate of Q1 Apple iPhone X production by 25%, Q2 production by 44%

Over at securities firm JP Morgan, analyst Narci Chang is taking an axe to his estimate of Apple iPhone X production for the first half of 2018. From January through March, Chang now expects Apple to produce 15 million units of the tenth-anniversary model. That is a drop of 5 million handsets (25%) from his original prediction. For the second quarter, the analyst lowered his estimate by a whopping 44%, as he now sees 10 million iPhone X units rolling off the assembly line during the three months. He originally called for 18 million phones to be produced from April through June.

Apple hinted at strong iPhone X sales when it announced its fiscal first quarter earnings. With the report, Apple said that the average retail price of purchased iPhone models came to $797, much higher than the $755.78 predicted. With the iPhone X starting at $999 for the 64GB version, it appeared that sales of the device were strong. But others have been constantly alluding to weak demand for the device.

Earlier today, we told you that Sprint is willing to lease you the iPhone X for $0 down and $20/month under the terms of its 18-month Flex lease. That is a 50% discount. Who knows? If demand is truly as lackluster as JP Morgan thinks it is, we could see some great pricing ahead for Apple's most expensive smartphone.

source: SeekingAlpha