updated 04:00 pm EDT, Wed June 10, 2009
June iPhone prod. down
Despite planning to launch the iPhone 3GS on June 19th, Apple is actually lowering its June-quarter iPhone production, claims Collins Stewart analyst Ashok Kumar. Citing checks with Hon Hai, one of Apple's manufacturers, Kumar says that production will amount to just 4.6 million units, instead of an anticipated 5.2. A prediction for the September quarter calls for a potentially wide range, between 6.5 and 7.5 million phones.
Apple continues to warrant a Buy rating, but the lowered production may threaten the company's financial future, claims Kumar. Apple stock has been on a constant decline since Monday, losing 82 cents that day, another $1.03 on Tuesday and nearly $4 on Wednesday. Aside from the 3GS, Apple has also introduced a host of new MacBook Pros with cheaper prices, in a bid to spur sales.