Analyst: Apple Might Miss Its Own Guidance This Quarter

Jefferies' analyst Peter Misek has reduced his forecast for iPhone sales and lowered his price target for Apple to $420 from $500. Misek even suggests there is a 25% chance that Apple could miss its own guidance for the quarter.

According to Misek, supply chain reports reveal "issues with the new iPhone casing colors, leading to launches being delayed from June to July-September." Additionally, customers are reportedly waiting to see what Samsung will debut with its new Galaxy S IV leading to a very slow quarter for Apple.

Misek believes that Apple may release a bigger smartphone in 1Q2014; however, by that time it will probably be too late to prevent people from defecting to Samsung.


"Historically when handset makers fall out of favor (e.g., the RAZR, Blackberry, HTC) they fall faster/further than expected."

Misek's new targets are based on "moderate growth"; however, if the iPhone 5S and iPhone 6 "fail to re-stimulate" the developed market, he says he's going to cut them further.

[BusinessInsider] [Fortune]