Analyst lowers prediction of iPhone XR shipments by as much as 30%

13 November, 2018, 20:17 | Author: Regina Silva
  • Apple Inc. iPhone XR smartphones sit on display at a Soft Bank Group Corp. store in Tokyo Japan on Friday Nov. 2 2018.        , Bloomberg

Lumentum executives told investors at a UBS Group AG conference in San Francisco that the customer asked to cut 3-D component shipments just days ago after having requested expedited orders in recent weeks.

"The legacy iPhone models forecast is likely to increase significantly thanks to more affordable prices; the total iPhone shipments in 1Q19 are likely to see a YoY decline", Kuo continued, citing Career and Nissha Printing as two suppliers that might be affected by Apple's cuts.

Analysts said that this could only refer to Apple.

JP Morgan analysts weighed in by cutting their price target for Apple by $4 to $270 pointing to poor orders for the new iPhone XR.

This isn't the first sign of bad news for the latest iPhones.

The slide may also reflect concerns that Apple knows that iPhone unit sales are going to go negative in the short-term, which is why it made a decision to stop reporting unit sales.

CNN sues White House over revoked credentials of correspondent
Trump interrupted her, calling it a racist question. "I will continue to ask the questions that affect America, all of America". Sure enough, the White House's clip appears sped up during the actual exchange between Acosta and the White House intern.


The royal fab four reunite for Remembrance Day service
To accessorize, the Duchess of Sussex opted for a simple black clutch with gold chain detailing and classic pumps (also black). This year marks the 100th anniversary of the end of World War I, which lasted from July 28, 1914, to November 11, 1918.


More heavy rain for Tuesday
Behind this front on Tuesday , more lake effect snow is likely with the best chance of significant accumulation west of US-131. We'll keep an eye on this event, as this particular model may be going a little on the low side with forecast amounts.


Shares of Lumentum plummeted a record 30 per cent while Apple dropped as much as 4.1 per cent. Oclaro Inc., which is being bought by Lumentum, lost 11 per cent, on track for its biggest drop since April. The company said that it received reduced orders from a major tech firm that is one of its largest customers for 3D sensing components. These two companies are also Apple's 2nd and 3rd largest suppliers of VCSEL arrays - behind Lumentum - for augmented reality applications.

'Although Apple has positioned itself as a super-expensive handset maker providing high-end products, its strategy has not been working in emerging markets including China and India as Chinese vendors have been making iPhone-like products'.

Kuo last month predicted that more people would upgrade to the iPhone XR this year and that the Cupertino-based giant would sell its cheaper model better than the iPhone XS and iPhone XS Max.

Analysts interpreted the move as an indicator that Apple may have 'something to hide'. He also noted the latest version of iOS improved the performance of older iPhones.

"Longer-lasting products could lead to higher customer satisfaction, potentially enable Apple to charge higher prices for its devices, and would help fulfill the company's environmental objectives", Toni Sacconaghi, an analyst at Sanford C. Bernstein & Co., wrote Monday in a note to investors. For a decade, the iPhone has been the bellwether of a booming smartphone market.

Recommended:



Popular

Game of Thrones season 8 premiere month and teaser video revealed
Game of Thrones fans have been waiting to find out when the final season of their favorite fantasy series will finally arrive. The season will contain just six episodes, although they will reportedly be supersized - some as long as feature films.

Flipkart Group CEO Binny Bansal resigns after probe into misconduct charges
Bansal has strongly denied the allegation, according to a separate statement by Flipkart and its main shareholder Walmart. But Walmart expressed confidence in the leadership structure and says the transition was in the works for some time .

Now even the French Army is rinsing Trump about cemetery no-show
Also known as the Belleau Wood cemetery, the site is home to the graves of 2,289 American war dead and 1,060 names of the missing. More than 2,000 United States troops are buried at Aisne-Marne American Cemetery, where Trump was meant to visit on Saturday.

Nets' Caris LeVert suffers devastating leg injury
A stretcher was quickly brought out, and once his leg was stabilized, LeVert was taken off the floor. Hopefully LeVert comes back even better next season for the Nets.

UN nuclear watchdog: Iran remains within 2015 deal limits
A first round of American sanctions took effect in August, and the second round on November 4. India's government is analysing the details of exemptions granted by the U.S.

Chris Evans, Hugh Jackman, more mourn the passing of Stan Lee
"No one has had more of an impact on my career and everything we do at Marvel Studios than Stan Lee ", Feige tweeted . His infectious enthusiasm reminded us why we all fell in love with these stories in the first place".

Trump ramps up Macron spat by mocking France in world wars
He wrote: " Emmanuel Macron suggests building its own army to protect Europe against the US, China and Russian Federation ". Macron with a tweet as soon as Air Force One touched down Friday in Paris.

Moon leaves for Singapore to take part in ASEAN summits
Some ASEAN members and China have overlapping claims to islands in the sea, one of the world's busiest waterways. But an agreement is unlikely to be announced.

Dozens of cat mummies, rare beetles discovered in Egyptian tombs
It was part of an effort, they said, to draw visitors back to Egypt after tourism nose-dived following the Arab Spring. The Egyptian government officials and ambassadors came in to take a look at the newly discovered tombs and artefacts.

Grim search for more fire victims, 31 dead across California
The death total equals the 1933 Griffith Park disaster in California , which is the deadliest fire on record for the state. With 29 people confirmed dead and 228 still unaccounted for, the Camp Fire death toll is likely to climb, officials said.