On December 7, local time, Erik Woodring, an analyst at Morgan Stanley, said in a report that Apple’s iPhone shipments in the fourth quarter were expected to be further lowered by 3 million units. Morgan once again cut iPhone shipment expectations. Morgan Stanley currently expects iPhone shipments in the fourth quarter to be about 75.5 million units, lower than the original forecast of 85 million units.
In an interview with the media in November this year, Erik Woodring said that it is not possible to look at the decline in Apple’s sales alone. It is necessary to consider macro uncertainties, the fact that inflation has eroded the budget, and consumers seeking discounts. “We see the iPhone as a life-critical technology product and a safer option in this volatile environment,” Woodring said.
Morgan Stanley said that due to the decline in production and the instability of the supply chain, Apple’s best-performing fourth-quarter performance will be affected, which is expected to drag down Apple’s fourth-quarter revenue forecast by 3% to $120 billion. For comparison, Apple’s revenue in the first fiscal quarter of this year was $123.9 billion, an increase of 11% year-on-year. On December 7, Apple’s stock price closed down 1.38%, and it has fallen 22.56% year-to-date.
Cold in the holiday season? Morgan Stanley once again lowered its iPhone shipment forecast for the fourth quarter. Click on the video to see it!