In a note to clients — as noted by MacRumors, Apple analyst Ming-Chi Kuo says the worst is almost over in regards to dipping iPhone sales, especially if the China-U.S. trade war doesn’t intensify.
He’s reduced his estimate for iPhone shipments in the first quarter of 2019 from 38–42 million units to 36–38 million units because the “demand for new models in China and emerging markets is lower than expected, However, he believes the decline will begin to ease starting in the second quarter.
Kuo estimates iPhone shipments in the second quarter of 2019 will reach 34–37 million units, slightly higher than the market consensus of 30–35 million units. That would be a 14% decline year-over-year, but still better than the estimated 29% drop in the first quarter.
