On Tuesday, Mizuho Securities lowered its estimate for Apple’s iPhone production in the December quarter, given supply-chain disruptions. But it raised its iPhone forecast for the March quarter and set a high target for 2022.
Apple’s flagship 6.7-inch iPhone 13 Pro Max offers storage up to 1 TB
Patrick Seitz for Investor’s Business Daily:
Mizuho Securities analyst Yasuo Nakane lowered his estimate for iPhone production in the fourth quarter to 90 million units from 95 million. That would represent a production decrease of 4% year over year.
For the first quarter, Nakane now expects Apple to make 66 million iPhones, up 20% from the same period a year earlier. He previously forecast Apple to produce 59 million iPhones in the first quarter.
For full year 2022, Nakane is forecasting production of 259 million iPhones, up 9% over the firm’s 2021 estimate of 237 million units.
In a note to clients, Nakane said he is positive on Apple stock. He cited strong sales for iPhone 13, especially in China. Plus, older models like the iPhone 12 continue to sell well, he said.
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