“UBS’s Steve Milunovich this morning weighs in with some negative thoughts for Apple (AAPL), which is due to report fiscal Q1 results next Tuesday, January 26th, based on a survey of Apple shoppers,” Tiernan Ray reports for Barron’s.
“Milunovich, who has a Buy rating on Apple stock, and a $130 price target, relates the findings of an outfit called Consumer Intelligence Research Partners, which surveys 500 buyers of Apple products each quarter,” Ray reports. “The survey is U.S. only.”
“The results of that September to December questioning shows that Apple’s older models of iPhones were more popular than they had been in past, somewhat eclipsing sales of the newer 6s and 6s Plus models,” Ray reports. “Specifically, he thinks sales of the newer models were 67% of total iPhone sales in the December quarter, down from the 75% of the mix that the 6 and 6 Plus — last year’s new models — made up at the same time a year ago.”
Survey data for this quarter indicates a moderate shift to older phones year-over- year. The weighted average no-contract retail price declined 2% sequentially and 1% year-over-year. Average screen size and storage per device improved a bit, but retail prices were likely lower as the percentage of new 6s models was down 7-8 points YoY and below historical norms. There has been concern that consumers are less enthusiastic about the feature and performance gains with the latest iPhone 6s/6s+ models. Indeed, more consumers appear to be opting for last year’s iPhone 6 models that are priced $100 lower. — UBS analyst Steve Milunovich, January 20, 2016
Read more in the full article here.
MacDailyNews Take: It’s tough to extrapolate iPhone mix estimates based on data from a single U.S. survey.
That said, with iPhone 6s, “everything’s changed,” except for Apple’s stubborn, pigheaded, and stupid tick-tock iPhone naming scheme which implicitly screams to the entire world: “Nothing’s changed!”
If Milunovich’s estimates end up being right, we told Apple so last September:
Apple, enough with the stupid iPhone ‘S’ naming already.
iPhone “S” years usher in hugely significant features, such as oleophobic displays, significant GPU improvements, world phone capability, Siri personal assistant, video stabilization, panorama photos, 64-bit processors, TD-LTE support, Touch ID, and 3D Touch, among other improvements and additions. Each year’s iPhone deserves its own number. By not doing so, Apple is shooting itself in the foot; handicapping iPhones with an “S” every other year. Why Tim Cook or Phil Schiller haven’t put an end to this stupid – yes, stupid – “S” naming is inexplicable. Why don’t you just name it “iPhone No Big Deal This Year,” Tim and Phil?
Here’s what you say onstage and in the press release when there’s no “iPhone 7s” and you jump directly from iPhone 7 to iPhone 8: “The improvements are such that the new iPhone deserves its own number.” Period. Done. Mission accomplished. It’s your naming convention, Apple, and you can correct your stupid mistake at any time. – MacDailyNews, September 9, 2015
UBS: Apple’s quarterly results unlikely to help stock next week – January 20, 2016
[Thanks to MacDailyNews Reader “David E.” for the heads up.]