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Financial Associated Press, December 8 (Editor Liu Rui) On Wednesday Eastern Time, Morgan Stanley lowered Apple’s iPhone shipment forecast for the fourth quarter by another 3 million units, and predicted that Apple’s quarterly revenue would also be affected by it. Affected, it may decline by 3% year-on-year.
Prior to this, Morgan Stanley had lowered its iPhone shipment forecast for the fourth quarter by 6 million units in November. After this downward revision, Morgan Stanley now expects Apple to ship about 75.5 million iPhones in the fourth quarter, well below the original forecast of 85 million.
Morgan Stanley analysts said that the fourth quarter of each year is usually the quarter with the largest shipments of Apple products, because the winter holiday shopping season tends to boost the performance of the quarter. However, due to the recent limited production capacity of Foxconn’s Zhengzhou factory, Apple’s iPhone shipments in this quarter have been affected.
Analysts expect the slowdown in iPhone shipments to cut Apple’s fourth-quarter revenue by 3 percent to $120 billion. Apple reported revenue of $123.9 billion in the fourth quarter of last year (the company’s first fiscal quarter of 2022), an 11% year-over-year increase.
While iPhone shipments and Apple revenue are expected to decline, Morgan Stanley analysts said the forecast does not necessarily reflect slowing iPhone demand.
They wrote in the report: “So far, investors are well aware that the fourth quarter will be challenged due to iPhone supply shortages. Therefore, the most important near-term debate is that in this quarter’s unmet demand. How much is likely to disappear, and how much will simply be delayed.”
Morgan Stanley said optimistically: “We believe that demand for the iPhone 14 Pro/Pro Max remains strong, which supports the view that demand in the fourth quarter is more likely to be delayed until the first quarter of next year, rather than disappearing completely. .”
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