Apple analyst Ming-Chi Kuo is out with his latest research report, says that 2Q19 iPhone shipments may be flat, and the year-on-year decline will be over soon. Although the 2Q19 iPhone shipments declined by about 14% year-on-year, they have improved significantly from just 29% in 1Q19 and believes that 2Q19 iPhone shipments will likely be better than the market consensus:
Apple to announce final results for the holiday quarter on its upcoming earnings call this Tuesday, where the company is expected to report $84 billion revenue instead of the original estimated $89-93 billion, as it announced earlier this month.
We maintain our forecast of 188–192mn units for 2019 iPhone shipments. We believe the downside risks of share prices for the Apple and iPhone supply chain are limited in the near term given that 2Q19 iPhone shipments will likely be better than the market consensus.Kuo estimates that 2Q19 iPhone shipments to be about 3400 – 37 million units, which is slightly higher than the market consensus of 30 – 35 million units. Looking into later of this year, he expects 3Q19 and 4Q19 iPhone shipments to be approximately 44 – 46 and 67 – 71 million units, respectively.
Apple to announce final results for the holiday quarter on its upcoming earnings call this Tuesday, where the company is expected to report $84 billion revenue instead of the original estimated $89-93 billion, as it announced earlier this month.