Nomura Securities cuts Apple iPhone estimates

“The steady drip-drip-drip of negative reports on Apple iPhone production and sales continued on Friday. Nomura Securities analyst Jeffrey Kvaal cut his forecasts for iPhone sales for the company’s fiscal first and second quarters,” Patrick Seitz reports for Investor’s Business Daily. “”

“Kvaal believes Apple ordered too many iPhone 6S-series smartphones for the fall launch and is cutting production to deal with its existing inventory. Current iPhone users haven’t upgraded to the newer handsets in the numbers Apple expected, he said,” Seitz reports. “However, the company continues to attract people switching from phones running Alphabet’s Google Android operating system, he said.”

“For the December quarter, Apple’s fiscal Q1, Kvaal trimmed his iPhone sales estimate by 2% to 75 million units,” Seitz reports. “Kvaal remains bullish on Apple’s prospects. He rates Apple stock as a buy with a price target of 145. Apple fell 2.4% to 97.13 on an overall rough stock market today. But Apple shares actually rose 0.2% for the week.”

Read more in the full article here.

MacDailyNews Take: 11 days to go until the 26th.

SEE ALSO:
How many iPhones did Apple sell last quarter? – January 15, 2016
JPMorgan lowers estimates, price target on Apple supplier Analog Devices – January 15, 2016
Apple critics and the idiot brigade – January 15, 2016
Apple supplier TSMC reports record earnings, casting further doubt on ‘Peak iPhone’ concern – January 14, 2016
Apple iPhone sales surged about 33 percent in China in Q4 2015 – January 13, 2016
Apple supplier TSMC raises capex, expects global smartphone shipments to expand – January 14, 2016
Apple to release Q116 earnings, webcast live conference call on January 26th – January 5, 2016

5 Comments

  1. Do we get to cut Nomura Securities doofus analyst Jeffrey Kvaal once and for all when he’s proved wrong, again? I suggest any anal-cyst who makes a bad (actually embarrassing) call gets to be tarred & feathered and run out of town in a rail, for good.

  2. It doesn’t matter that Nostradamus is right, only that his sponsors are satisfied with the results of his prognostications. Nostradamus is human and must feed himself and his brood.

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