Apple (AAPL) iPhone 8 Preorders are Weak - Rosenblatt

September 20, 2017 10:54 AM EDT
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In addition to connectivity issues with the new watch, part of today's weakness in Apple (NASDAQ: AAPL) shares (-2%) could be related to negative comments at Rosenblatt due to weak iPhone 8 preorders.

Analyst Jun Zhang said their research suggests that iPhone 8 preorders are substantially lower than iPhone 7 and iPhone 6 levels.

"We understand many customers could be waiting for the iPhone X, but we are concerned iPhone 8/8 Plus sell-through could bring some headwinds."

In China, the analyst said their research suggests that there were about 1.5 million iPhone 8 preorders on (JD:NR) in the first three days, compared to the iPhone 7 with 3.5 million preorders in the first three day, They also believe China Mobile’s (CHL:NR) iPhone 8 preorder volume was around 1 million units, compared to 2.5 million units and 3.5 million units for the iPhone 7 and iPhone 6, respectively, for the first three days.

In the U.S., the analyst said initial feedback also suggests iPhone 8 preorder volume is below the iPhone 7 and iPhone 6.

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