Analyst lowers prediction of iPhone XR shipments by as much as 30%

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And since the company's disappointing quarterly earnings and the announcement that it would no longer report iPhone unit sales, both investors and Wall Street analysts have soured on the stock.

In the fourth quarter, Apple sold 46.9 million iPhones, missing analyst expectations of 47.5 million iPhones, according to FactSet.

Chinese technology giant Huawei's latest Mate 20 series is hurting Apple's sales even as it is not a big player in the US, Kuo added in the note.

"Many suppliers have lowered numbers due to their unnamed 'largest customer, ' which is Apple".

"I believe the perception that Apple is entering a slow-to-growth mode outweighs the reported EPS metrics, and justifies a discount to the market's valuation".

Three analysts said that Lumentum's forecast pointed to a reduction of 18 million to 20 million iPhones on earlier estimates, based on average selling prices for 3D sensing parts.

Another iPhone component supplier has warned of softer than expected demand for Apple's latest handsets. The company said that it received reduced orders from a major tech firm that is one of its largest customers for 3D sensing components.

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Although Apple never said as much when it launched the Apple iPhone XR in September, its fairly obvious the device is meant to be more a direct competitor with the Android market. Apple also provided lukewarm guidance for the all-important holiday quarter.

On Friday we reported that a company by the name of II-VI had acquired Apple backed Finisar. "The Apple investment paradigm is moving away from a focus on device sales toward a more predictable services-driven business".

The iPhone XR also seems to be facing competition from Apple's own premium iPhone XS and iPhone XS models as users prefer the narrower bezels and better cameras on these phones.

Apple CEO Tim Cook was directly asked about this possibility during Apple's most recent conference call. Previous iOS upgrades supported gadgets dating back several years, but this is the first time Apple has prioritized enhancing the speed of older iPhones.

"This year Apple well and truly is the stock market once again", Cinko writes, "and its price action lately has been stirring up troubling signs about what might be next for equities".

Specifically, iPhone sales last quarter remained stagnant while revenue from iPhone sales jumped by a whopping 29%.

That could extend iPhone replacement cycles by six months to 3.2 years and push unit sales down by 6 per cent a year for three years, he estimated.