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Goldman Sachs: iPhone shipments to drop 36% during quarter three

Goldman Sachs expects iPhone shipment to drop 36% during the third quarter due to coronavirus-related lockdowns around the world and downgraded Apple Inc stock to “sell,” according to Reuters. Why? Three reasons:

° The detail of the “iPhone 12″ line-up from September/October to November “as limited global travel could impede Apple’s final engineering and production process.”

° Coronavirus-related lockdowns around the world;

° Average selling prices for consumer devices are likely to decline during a recession and remain weak well beyond the point when units recover.

The prediction is despite Apple’s second generation iPhone SE, which is now available for pre-order. Ironically, Goldman Sachs is Apple’s financial partner on the Apple Card.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.