Sales Forecast for Apple iPhone XS Max Slashed By 50 Percent

The most important implication of these forecasts is not just what it means for Apple, but what it means for a decade-long tech-driven stock market and economy. JL

Kirsten Korosec reports in Tech Crunch:

Citi Research has joined a growing list of analysts to lower first-quarter production estimates for Apple’s iPhones amid weakening demand for the smartphones. " iPhone is entering a destocking phase, which does not bode well for the supply chain." Two weeks ago, (analysts) predicted that 2019 iPhone shipments will likely be between 5 to 10 percent lower than 2018.

Citi Research has joined a growing list of analysts to lower first-quarter production estimates for Apple’s iPhones amid weakening demand for the smartphones.

Citi Research analyst William Yang cut the overall iPhone shipment forecast by 5 million to 45 million for the quarter, reported Reuters. That’s a sting that falls in line with others such as influential TF International Securities Apple analyst Ming-Chi Kuo, who delivered a less than stellar iPhone forecast earlier this month.
It’s Yang’s outlook for the 6.5-inch iPhone XS Max that is particularly gloomy. In a research note to clients, Yang slashed the shipment forecast for the iPhone XS Max by 48 percent for the first quarter of 2019.
The cut in Citi’s forecasts is driven by the firm’s view that ” 2018 iPhone is entering a destocking phase, which does not bode well for the supply chain,” Yang wrote.
Two weeks ago, Kuo predicted that 2019 iPhone shipments will likely between 5 to 10 percent lower than 2018. He also lowered first quarter shipment forecasts by 20 percent.