Apple (AAPL) Now Cranking Out 400K iPhone X Units Per Week - Rosenblatt

Rosenblatt analyst Jun Zhang said their research shows that Apple (NASDAQ: AAPL) iPhone X production has increased to 400K units per week from 100K units per week.

Despite the increase, the firm maintained its production estimates of 20 million and 50 million iPhone X for the December and March quarters, respectively.

For the iPhone 8/8 Plus, they believe sales over the last two weeks remain down 30% YoY. Of the sales in the past two weeks, they also estimate sales of the iPhone 8 to be 40% of what the iPhone 7 generated, whereas they find iPhone 8 Plus sales to be similar with iPhone 7 Plus levels. Zhang notes it is difficult to compare real demand for both generations since the iPhone 7 Plus was in short supply last year.

So far, they believe Apple will continue to pull in strategic components, such as 3D sensing, memory, panels, and analog IC component. They also note that they do not see further order push outs for the iPhone X in October, but believe we could see an iPhone 8 production cut in November.

The firm maintained a Neutral rating and price target of $150.

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 $155.90 yesterday.

You May Also Be Interested In

• Rosenblatt Starts Viavi Solutions (VIAV) at Buy
• Shree Cement Ltd (SRCM:IN) PT Raised to INR17,900 at JPMorgan
• Hanssem Co. Ltd. (009240:KS) PT Lowered to KRW35,000 at JPMorgan