Apple slips as J.P. Morgan tweaks iPhone shipment forecast for holiday quarter - Seeking Alpha

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Apple (NASDAQ:AAPL) shares slipped astir 1% successful premarket trading connected Monday arsenic concern steadfast J.P. Morgan lowered its shipment forecast for the iPhone for the upcoming December quarter, citing the caller disruption successful China.

Analyat Samik Chatterjee lowered his iPhone 14 estimates by 5M and different iPhone estimates by 3M and present forecasts iPhone and full revenues to diminution year-over-year during the period.

"In narration to interaction to [fiscal twelvemonth 2023] estimates overall, the simplification to estimates are much humble arsenic we expect portion of the shipment shortfall successful the December 4th to beryllium made up successful the March quarter, which typically being a little accumulation 4th volition springiness Apple ample opportunities to retrieve the shortfall, and connected the request broadside based connected humanities precedent we expect constricted to humble interaction to user request from delays and extended transportation times," Chatterjee wrote.

The expert added that capitalist sentiment connected Apple (AAPL) is apt to stay "challenged" successful the adjacent word absent further visibility into the December 4th shortfall, but the constricted interaction connected request to the iPhone 14 lineup whitethorn springiness semipermanent investors "several charismatic buying opportunities into the shares done to the year-end."

Last week, Apple (AAPL) said that it volition put $450M to powerfulness the caller Emergency SOS strategy disposable connected the iPhone 14.