More on UBS's Apple (AAPL -2.9%) target cut: Analyst Steve Milunovich hasn't changed his FQ1...

|About: Apple Inc. (AAPL)|By:, SA News Editor
More on UBS's Apple (AAPL -2.9%) target cut: Analyst Steve Milunovich hasn't changed his FQ1 iPhone forecast much, but has lowered his estimates for each of the next 3 quarters by 5M. He claims Supply chain checks indicate the iPhone build rate will fall to 25M in the March quarter (his sales estimate for the quarter is still at 40M); that some Chinese sources don't expect the iPhone 5 to do as well as the 4S; and (like others) that the iPad Mini is cannibalizing its bigger peer.  On a more positive note, he thinks China Mobile could start selling the iPhone in a year. (Macquarie)