12/7/2022, 4:20 PM (Source: TeleTrader)
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Morgan Stanley further cuts iPhone delivery estimate

Analysts at Morgan Stanley revised the estimated deliveries of the latest iPhone 14 down by another three million units in response to supplier issues related to China's COVID-19 restrictions.

Including the six million decreases projected by the same analysts last month, the US tech giant is now expected to ship about 75.5 million units, over 11% less than initially predicted.

However, they concluded this doesn't necessarily mean the demand for Apple's latest flagship phones is suffering. Apple's stock declined nearly 1% on Wednesday, returning to last week's levels.

Baha Breaking News (BBN) / ND