Hey Monkeys, I just read about how Wall Street is reacting to a possible iPhone delay.
Several banks and firms are anticipating possible delays of the new iPhone due to manufacturing issues.
Lynch on Wednesday slashed its forecast for full-year shipments of Apple's iPhone by 11 million, citing worries about possible manufacturing hiccups.
In particular, the analysts said there have been issues with new fingerprint-recognition features and 3D facial recognition technology.
The analysts cut their estimates by 11 million for shipments in the September quarter, which marks the end of Apple's fiscal year. For the December quarter, the analysts cut their estimates by 6 million.
At the same time, the analysts raised their estimates for the March 2018 quarter by 10 million and said they expect 2018 shipments will rise to 243 million.
Some firms that are anticipating a possible delay are listed below.
Earlier reports fromCapital Markets, , KGI and Drexel Hamilton have said the new iPhone launch could be delayed to October or November.
Apple hasn't announced a release date for the new iPhones
I don't understand the "delay" if the phone has no release date yet. If there was an issue with manufacturing, can't Apple just push the expected release date back slightly?
Do you think Wall Street should be worried about this possible delay? Why or why not?
Financial Modeling Course
- Get An Edge For Your Interviews & Finance Career
- The Best (and Most Affordable) Financial Modeling Self-study Courses.
- WSO Members receive a 15% discount