JPMorgan's Mark Moskowitz tries to put a positive spin on reports of iPhone order cuts (I, II),...

|By:, SA News Editor

JPMorgan's Mark Moskowitz tries to put a positive spin on reports of iPhone order cuts (I, II), arguing they're due to improving production yields and suggest Apple's (AAPL -0.7%) gross margin could rebound to 40% - Apple guided for an FQ1 gross margin of 36% in October. However, Moskowitz does admit "there are indications the supply chain has seen 20% order cuts related to iPhone 5." He respectively sees 48M and 45M iPhone sales for FQ1 and FQ2. (yesterday)