John Vinh, an analyst at KeyBanc Capital Markets, says that iPhone XR inventory is piling up at stores due to weak sales, reports Barron's.
“Our latest carrier survey indicates in-line iPhone XS/Max demand, while iPhone XR sell-through has been underwhelming,” he wrote on Thursday. “While iPhone XS Max inventories remain healthy, XR inventories have already bloated to over 3 DOI [days of inventory].”
The iPhone XR is significantly cheaper than the new iPhone XS at $749 vs. $999. Initially, many felt that it would be a strong seller for Apple given its new design, Face ID, and larger screen size. However, this isn't the first report of lackluster sales. Nikkei reports that Apple has halted plans to have Foxconn and Pegatron expand iPhone XR due to disappointing demand.
Apple's stock feel last week after announcing weaker than expected guidance for the holiday quarter. The company forecasted sales for $89 billion to $93 billion versus the average projection of $93.02 billion. Apple also announced that it would no longer disclose unit sales for iPhone, iPad, and Mac.
More details at the link below!
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“Our latest carrier survey indicates in-line iPhone XS/Max demand, while iPhone XR sell-through has been underwhelming,” he wrote on Thursday. “While iPhone XS Max inventories remain healthy, XR inventories have already bloated to over 3 DOI [days of inventory].”
The iPhone XR is significantly cheaper than the new iPhone XS at $749 vs. $999. Initially, many felt that it would be a strong seller for Apple given its new design, Face ID, and larger screen size. However, this isn't the first report of lackluster sales. Nikkei reports that Apple has halted plans to have Foxconn and Pegatron expand iPhone XR due to disappointing demand.
Apple's stock feel last week after announcing weaker than expected guidance for the holiday quarter. The company forecasted sales for $89 billion to $93 billion versus the average projection of $93.02 billion. Apple also announced that it would no longer disclose unit sales for iPhone, iPad, and Mac.
More details at the link below!
Read More