What you need to know
- A notoriously pessimistic analyst claims Apple will cut its iPhone 11 Pro Max production by 2 million units due to weaker sales.
- Jun Zhang of Rosenblatt Securities also says that the 11 Pro and Pro Max sales are down 15% compared to the XS and XS Max.
- He does however suggest that the iPhone 11 has sold 12 million units since September, a 15% increase over the XR.
Analyst Jun Zhang of Rosenblatt Securities has predicted that Apple will cuts its iPhone 11 Pro Max production by 2 million units due to weaker sales.
According to AppleInsider the report suggests that Zhang believes that sales of both the iPhone 11 Pro and Pro Max are down 15% compared to the XS and XS Max. He also believes that the iPhone 11 has sold more than 12 million units since its September launch, 15% more than the XR did last year.
Zhang also lowballed predictions over production of the "iPhone SE 2", The report notes:
As the report states, Zhang's notes are notoriously pessimistic when it comes to Apple, with claims of delay or decreased production a common theme. Zhang was reportedly way off when it came to predicting demand for the iPhone X.
More notably, Zhang and Rosenblatt caused AAPL to briefly slide in July of this year, after downgrading Apple's stock from 'neutral' to 'sell', citing flat iPhone sales and a slowdown for Apple's services. At the time, AAPL was trading at roughly $200. Yesterday, four months later, it closed at $243.18.
Zhang and Rosenblatt's current target share price for Apple is $150, which was reduced from $165 in January of this year. Again, given Apple's recent share performance and current price, the kindest way to describe this would be "wrong".
With Apple's earnings call just a few days away, we don't have long to wait before we have a clearer picture of just how well (or not) Apple has done this quarter. Of particular note will of course be the performance of the new iPhone 11 range.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9