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Tuesday, Apr 16
The iPhone 5S is "having pre-production issues with mass production at least a month or more...
The iPhone 5S is "having pre-production issues with mass production at least a month or more away," writes Jefferies' Peter Misek after visiting Asian suppliers; Misek was among the first to report of March quarter iPhone order cuts. He also thinks the launch of a cheaper iPhone could be pushed back to the Dec. quarter, and states "suppliers are worryingly beginning to discount Apple's (AAPL +1.1%) build plans following ~6 months of revisions." Misek, who has a $420 PT, is forecasting below-consensus FQ2 and FQ3 results ahead of April 23's FQ2 report. (Foxconn hiring) (WSJ iPhone report)