"It's a reversal from a similar report issued in October in which Kuo said he expected the iPhone XR to be a big seller for Apple", CNBC reported on Monday. In its most-recent quarter, Apple reported nearly no increase in the number of iPhones sold, but revenue from that business jumped 29 per cent from a year earlier.
The company creates components for the front-facing camera of Apple's newer iPhones that enable FaceID and augmented reality.
Longbow research analysts said spot checks with Apple's Taiwanese suppliers late last week highlighted 20 percent to 30 percent iPhone order cuts related mainly to iPhone XR and XS Max, and 20 percent to 25 percent order increases for older iPhone models.
Faced with a maturing smartphone market, Apple's strategy has been to entice customers to pay more for phones with new features such as facial recognition and more vibrant screens.
Based on Lumentum forecast, analysts have deduced that there is an 18 to 20 million reduction in iPhone orders from Apple.
According to StreetAccount, a couple of securities firms are fine-tuning their thoughts on what is going on now with the Apple iPhone.
Major suppliers to Apple Inc.'s iPhone fell Monday as investors fretted that one of the most important product lines in the technology sector was seeing weak demand.
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Apple's stock dropped yesterday when news broke that one of its main suppliers reduced its outlook for the rest of the year, citing reduced orders from one of its biggest customers.
Still, he said more consumers may be opting to purchase the higher-end iPhone XS models or the lower-end iPhone 8 model instead. Apple said it preferred to focus on its transition to a services company, with regular recurring revenue.
Both Lumentum and IQE are part of the supply chain for those chips, which are used in iPhones.
Apple CEO Tim Cook was directly asked about this possibility during Apple's most recent conference call. Apple's shares are down more than $9 this morning, crossing under the $200 mark for the first time in months.
"Longer-lasting products could lead to higher customer satisfaction, potentially enable Apple to charge higher prices for its devices, and would help fulfill the company's environmental objectives", Toni Sacconaghi, an analyst at Sanford C. Bernstein & Co., wrote Monday in a note to investors.
All told, Kuo believes cumulative iPhone sales for the quarter will remain steady, albeit with a different mix of iPhone XR and XS sales as initially anticipated.