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Wednesday, Jan 16
Apple's (AAPL +4.1%) display order cuts "are within a normal 15-25% range," and not the 50%...
Apple's (AAPL +4.1%) display order cuts "are within a normal 15-25% range," and not the 50% range recently estimated by The Nikkei (albeit from a sky-high starting point of 65M), thinks Wedge Partners' Brian Blair. He adds Apple was aggressively ordering panels in Q4, and still forecasts 90M iPhone sales between Q4 and Q1. Merrill's Scott Craig, who cut his PT to $630 from $720, is less sanguine: he's forecasting lower volumes due to macro issues and competition, is worried about iPhone mix, and thinks recent promotions aren't entirely subsidized by retailers. (earlier)