GBH Insights analyst Daniel Ives weighed in on today's Nikkei report that Apple (NASDAQ: AAPL) plans to make 20 percent fewer new model iPhones this year, calling the report "noise."

"We believe the bark is worse than the bite as we saw last quarter with erroneous reads out of the Asia supply chain," Ives said in a comment to StreetInsider. "We believe the upgrade opportunity is massive for Apple over the next 6 to 9 months and we view this report as noise and would be buyers on weakness. Maintain Buy and $200 price target."