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

More Evidence Emerges of Soft iPhone Sales

Although Apple never said as much when it launched the Apple iPhone XR in September, its fairly obvious the device is meant to be more a direct competitor with the Android market.

Last week a media report saying the iPhone maker had told its smartphone assemblers to halt plans for additional production lines dedicated to its new lower-priced iPhone XR had pressured supplier stocks.

Apple is increasingly touting its base of 1.3 billion installed devices, rather than how many iPhones it sells each quarter.

The poor performance of the XR is lowering the prediction for total iPhone shipments as well, which are expected to be down 15-20% in the first quarter of 2019 compared to this years Q1. Starting at $750, the iPhone XR is a significantly cheaper alternative to Apple's flagship iPhone Xs and Xs Max but may still be out of many consumers' budgets. In a new investor note obtained by MacRumors, Kuo lowered his estimate for iPhone XR sales by upwards of 20% for the current holiday quarter.

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Concerns over iPhone sales growth and a cut in forecasts from a number of Apple suppliers have investors anxious about the outlook for the world's largest company.

"We have reduced our iPhone XR shipment estimation from 100mn units to 70mn during the new product lifecycle", Kuo wrote, citing reduced Chinese consumer confidence stemming from the trade war, high prices, and competition from Huawei.

On Friday we reported that a company by the name of II-VI had acquired Apple backed Finisar.

Both Lumentum and IQE are part of the supply chain for those chips, which are used in iPhones. "Apple got cautious in their guidance and it's hitting their suppliers", he continued.

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"Many suppliers have lowered numbers due to their unnamed 'largest customer, ' which is Apple", said Elazar Capital analyst Chaim Siegel.

Adding to Monday's negative news, Longbow Research cautioned that Apple is facing weak iPhone demand in China.

"We believe these challenges are largely cyclical and investors should pay greater attention to the transformation to services, where Apple was able to report quarterly record revenue of $10 bn in [the most recent quarter] despite a regulatory challenge in China", the JPMorgan analysts write. "It doesn't matter a lot how many units there are in there in terms of the overall value of what's in the cart".

Which, of course, comes right as Apple stops reporting individual unit sales.

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