Production of Apple’s upcoming iPhone 15 handsets is running behind schedule, Barclays analyst Tim Long said in a note to clients said Monday.
Patrick Seitz for Investor’s Business Daily:
Apple’s contract manufacturers are experiencing shortages of key components, Barclays analyst Tim Long said in a note to clients. Those components include the iPhone 15’s titanium alloy frame casing and revamped camera module, he said.
The “slower-than-expected production start could have September-quarter iPhone units slightly below expectations,” Long said. That could lead to a shortfall of 2 million units during the calendar third quarter, he said.
“We estimate iPhone 15 units in the September quarter to be just shy of 20 million, vs. prior estimate of 22 million units,” he said. Long rates Apple stock as equal weight, or neutral, with a price target of $149.
In afternoon trades on the stock market today, Apple stock fell 1.2% to 188.34. With the fall, Apple stock slipped below its recent milestone valuation of $3 trillion.
MacDailyNews Take: Typical fomenting with bovine excrement. As always, profit from the gullible and the ignorant and the “analysts” who feed them.
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