Longbow Is Cautious on Apple (AAPL) iPhone Launch Volumes

Longbow Research analyst Shawn Harrison reiterated a Neutral rating on Apple (NASDAQ: AAPL) and believes that FY3Q/CY2Q iPhone production is tracking in line with forecasts but those forecasts call for at least a mid-single digit year-over-year decline in launch volumes for AAPL’s three next-gen iPhones.

The analyst stated "Contacts see a 10+% decline in FY3Q iPhone production (consensus -13%). Longbow’s regression analysis of $33B in China smartphone exports predicts $27B of FY3Q/CY2Q iPhone sales (consensus of $26B)". "Contacts’ FY4Q/CY3Q outlook for is a mid-single digit decline in iPhone shipments year over year."

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 $193.00 yesterday.

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