Apple bear sees weak iPhone 11 demand

Sep. 13, 2019 1:14 PM ETApple Inc. (AAPL)AAPLBy: Brandy Betz, SA News Editor112 Comments
  • Rosenblatt says Apple (AAPL -2.3%) is seeing "weak" pre-orders for the iPhone 11 family, citing conversations with retailers.
  • Analyst Jun Zhang says "there is no wait time today for the iPhone 11 Pro and Max" in the United States, suggesting that initial sales could be 20-30% lower than last year's iPhone XS and Max sales.
  • Demand in China might also be low as companies focus on 5G models, says Zhang. On JD.com, iPhone 11 pre-orders are about 500K compared to 900K for the iPhone XR last year.
  • Rosenblatt maintains a Sell rating on Apple and a Street-low $150 target. Apple has an Outperform average Sell Side rating.

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