Global Equities is out with some defense on Apple (Nasdaq: AAPL) following reports of slowing iPhone sales and cut orders from Apple to Asian suppliers, as noted by Credit Suisse ahead of the opening bell today.

Analyst Trip Chowdhry said:

• There is nothing new here; it is a well known fact that iPhone sales will slow in 2016, and Apple's Revenue and EPS estimates already reflect this
• We don't see any changes to current AAPL Revenue and EPS estimates
• For Apple, we are comfortable with our FY2016 Revenue estimates of $246.5 Billion and EPS estimates of $9.98; which is slightly higher than consensus of $245 Billion in Revenues and EPS of $9.86