Sales of Apple's (AAPL) iPhone 5 May See Larger than Expected Q1, Q2 Sales Drop - Analyst
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Price: $445.15 +0.68%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Apple, Inc. (Nasdaq: AAPL) shares are lower along with the broader market Thursday, though bearish comments from Macquarie aren't helping things out either.
Analyst Daniel Chang commented that iPhone 5 demand might be weaker than expected heading into the first- and second-quarters of calendar 2013. Chang cited supplier Hon Hai (Foxconn), which led him to cut his rating on the ODM from Outperform to Neutral.
In addition, Chang lowered his iPhone 5 sales estimate from 48 million units to 44 million in Q113, from 28 million to $26 million in Q213, and sees 22 million selling in Q313. Notably, he sees the largest shipment drop in Q213.
From a broader perspective, Chang thinks Apple's "less innovativve and differentiated functionality" will curb iPhone market share growth with peers catching up in the first-half of 2013.
Shares of Apple are off about 1.6 percent on the session.
Notably, Piper Jaffray analyst Gene Munster said iPhone 5 demand was as strong as ever today, though he didn't go into forward-looking statements.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $539.00 yesterday, with a 52 week range of $377.68-$705.07.
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Analyst Daniel Chang commented that iPhone 5 demand might be weaker than expected heading into the first- and second-quarters of calendar 2013. Chang cited supplier Hon Hai (Foxconn), which led him to cut his rating on the ODM from Outperform to Neutral.
In addition, Chang lowered his iPhone 5 sales estimate from 48 million units to 44 million in Q113, from 28 million to $26 million in Q213, and sees 22 million selling in Q313. Notably, he sees the largest shipment drop in Q213.
From a broader perspective, Chang thinks Apple's "less innovativve and differentiated functionality" will curb iPhone market share growth with peers catching up in the first-half of 2013.
Shares of Apple are off about 1.6 percent on the session.
Notably, Piper Jaffray analyst Gene Munster said iPhone 5 demand was as strong as ever today, though he didn't go into forward-looking statements.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $539.00 yesterday, with a 52 week range of $377.68-$705.07.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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Piper Jaffray, Gene Munster
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