iPhone Losing the Cool Factor, Demand Declining Across the World
The anniversary iPhone X was supposed to be a record-breaking device in terms of sales, helping Apple finally reach the $1 trillion market cap, but as it turns out, demand is not exactly as strong as the company expected it to be.
As a result, iPhone sales are dropping across the world, and J.P. Morgan analysts revised the performance of Apple suppliers to align with demand.
Analyst Bill Peterson believes that Apple’s iPhone production should drop to 55 million units from 60 million in the March quarter, and then to 45 million, down from 50 million units in the original forecast, in June.
“Non-mobile business fundamentals remain strong, but not enough to overcome weakening Apple demand,” the analyst explained when discussing how Apple suppliers are being impacted.