Apple (AAPL) has slashed its iPhone orders by 20%-25% from March quarter levels, claims Sterne...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (AAPL) has slashed its iPhone orders by 20%-25% from March quarter levels, claims Sterne Agee's Shaw Wu after conducting supplier checks. Such a cutback implies FQ3 iPhone sales of just 26M-28M, below Street estimates of 30M-31M. Wu's takeaway: Apple is being conservative in order to handle a demand pause ahead of the next iPhone launch, and to cope with high channel inventory. On the other hand, Wu believes Apple has increased iPad order plans. (also)