Apple's iPhone Pro shipments may be 20 million units lower than estimated

Apple’s iPhone Pro shipments may be 20 million units lower than estimated

0 minutes, 49 seconds Read

He cut his estimate for quarterly iPhone shipments by about 20% to between 70 million and 75 million units, compared to market consensus of 80 million to 85 million units.

Apple shares were trading down more than 2%, set to add to a 6% decline so far this month as concerns mounted over shipments in the all-important holiday sales season.

Kuo also predicted in a blog post on Tuesday that the supply shortfall could erode demand for the more popular Pro model rather than bolster sales, as consumers also grapple with a weak economy.

In contrast, other Apple analysts expect sales to pick up once production shortages ease and more Pro models become available.

“We note that Pro devices tend to sell out in early January, but we expect some of the missed revenue to be offset in the March-quarter,” CFRA Research analyst Angelo Zino said Monday.

Zino said the disruptions are coming at the worst possible time and are among the most severe since the early days of the pandemic.

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