JPMorgan on Tuesday became the second brokerage in two weeks to cut its forecast for Apple’s iPhone sales for the crucial holiday quarter, as global chip shortages and factory closures in Asia finally hold the technology giant. I came in
Brokerage cut it iPhone The revenue estimate for the first quarter of fiscal year 2022 is $63 billion (about Rs 4,73,010 crore), which will be an annual decline of about 4 per cent, analyst Samik Chatterjee said in a note to clients.
Last week, Needham said it expected iphone 13 Shipments in the first quarter totaled 80 million units and cut its estimate for the holiday quarter by 10 million units, citing supply chain issues including chip shortages.
For the fourth quarter, JPMorgan expects the iPhone model to bring in revenue of $46 billion (about Rs 3,45,380 crore) after selling 58 million units, which is in line with Wall Street’s $41 billion (about Rs 3,07,840 crore). Slightly higher than expected. .
According to Refinitiv IBES, analysts expect approximately 45 million units for the holiday quarter and 79.4 million units in the first quarter.
whereas Apple Due to its huge purchasing power and long-term supply agreements with chip vendors, supply chain constraints and lockdowns in the second half of the year in countries like Vietnam, it has managed to cope better with supply constraints than many other companies, leading to delays in its production timelines. obstacle is coming.
Bloomberg News reported Last week, Cupertino, a California-based company, is likely to cut production of its iPhone 13 by 10 million units due to global chip shortages.
Analysts said customers wanting an iPhone 13 are already testing their patience with the phone’s longest wait times in recent years.
Chatterjee said, “We continue to see strong demand for the iPhone 13 and 5G iPhone SE relative to lower investor expectations to act as a catalyst, the timing of which, although delayed due to supply headwinds, will increase in magnitude.” is unchanged,” Chatterjee said.
Apple’s announcement of hardware innovations for the holiday season despite chip shortages suggests the company was flexing its supply chain muscles, Wedbush analyst Daniel Ives said.
© Thomson Reuters 2021