Apple's iPhone shipments could fall 30% on WeChat ban - analyst

Noted Apple (NASDAQ:AAPL) analyst Ming-Chi Kuo thinks Apple's annual global iPhone shipments could fall 25-30% if the tech giant has to remove the WeChat app from App Stores.
Kuo's worst case scenario assumes a WeChat ban in all countries and not just the United States, where President Trump signed an executive order barring any transactions with WeChat.
A U.S.-only ban could cut 3-6% of iPhone shipments, according to Kuo's more optimistic scenario.
In other news, KeyBanc's internal data shows iPhone sales rose 53% in July on the prior month.
Analyst John Vinh notes that sell-through is down Y/Y compared to the pre-pandemic levels, but store inventories "remain at healthy levels" despite the retail store closures due to coronavirus spikes across the United States.
Vinh calls the trend "a strengthening recover in iPhone sales."
Apple shares are up 1.5% to $451.44 after a new Street-high target from Wedbush this morning, citing iPhone 12 optimism.
Previously: Trump signs orders targeting TikTok, WeChat; Tencent drops in Hong Kong (Aug. 06 2020)