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Rosenblatt on Apple (AAPL): 'We See No Evidence of Further Cuts after the Holiday Season'

December 26, 2017 10:06 AM EST
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(Updated - December 26, 2017 10:09 AM EST)

(updated to expand analyst comment)

Analyst Jun Zhang comments on Apple (NASDAQ: AAPL) "Our research indicates no further order cuts after the holiday season. Taiwanese media reports and estimate cuts could be confusing the market as we believe they are referring to previously mentioned iPhone 8/8 Plus production cuts with an iPhone X production ramp in December."

The analyst sees no cuts for the March quarter and believes "some media reports are likely highlighting cuts at specific iPhone 8 component suppliers and Android orders, we highlight that we do not see 3D sensing or OLED panel order cuts, which are specific components for the iPhone X."

Zhang believes the iPhone X is seeing stable sales in N. America throughout the recent holiday season and has "likely seen an acceleration in China’s market over the last two weeks."

Finally, the analyst comments "Our industry research with Chinese operators indicates that iPhone X sales likely surpassed 8/8 Plus sales combined so far. We also note that recent estimate adjustments could be attributed to previously very bullish views on the iPhone X cycle."



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