Investment firm Jeep Morgan has cut its forecast for iPhone 13 sales this holiday season because it believes a global chip shortage and plant closures in Asia will eventually put the Cupertino business in trouble.
According to reports Reuters, GP Morgan predicts that Apple will earn $ 63 billion in iPhone sales in the 2022 quarter. This figure indicates a decrease of almost 4% compared to the same period last year. Last week, Needham Investment Bank cut its iPhone 13 sales forecast for the first quarter of 2022 by 10 million units to 80 million units.
JP Morgan estimates that iPhone sales in the fourth quarter of 2021 will be around $ 58 million and $ 45 billion. That’s far more than Wall Street predicts that it will generate $ 41 billion in iPhone sales over the same period.
According to Refinitiv IBES, analysts expect Apple to sell 45 million iPhones in the holiday season and 79.4 million iPhones in the first quarter of 2022. Although Apple has outperformed many of its competitors in the face of global chip shortages, supply chain bottlenecks and plant closures in countries such as Vietnam are finally having an impact.
Bloomberg said last week that Apple would probably reduce the production capacity of the iPhone 13 by about 10 million units due to the lack of chips. Analysts claim that iPhone 13 buyers are facing one of the longest waiting periods in years to receive their smartphone.
Apple last night unveiled two new pieces of hardware called the AirPad 3 and MacBook Pro, and it is scheduled to launch them next week. “The Cupertinos showed last night that they are ready to challenge supply chain constraints and still want to be active in the market,” said Wedbush analyst Daniel Ives.