- Credit Suisse has trimmed its estimates for iPhone unit sales (AAPL -0.3%), pointing to ASP for the new models that's higher than expected and a build ramp for the highest-end phone (iPhone X) that's lower than it figured.
- The firm trimmed its 2017 estimate for iPhones to 217M units from a previous 223M, and trimmed its 2018 forecast to 233M from 248M.
- Correspondingly, it's changing price and earnings targets for suppliers due to those unit estimates -- notably TPK Holding (OTC:TPKCF), which saw a 10% cut to EPS estimates for 2017 and 20% for 2018.
- On the other hand, Credit Suisse is raising Foxconn's (OTC:FXCOF) EPS targets (by 4% for 2017 and 5% for 2018) and increased its price target. It's lowered Hon Hai's (OTCPK:HNHAF) price target.
- Source: Bloomberg
- Previously: Analyst: iPhone X could provide "strongest iPhone product cycle" (Oct. 16 2017)