- Apple increased initial iPhone Duo shipments to about 10 million units.
- Nikkei Asia reported Apple told suppliers to cut iPhone 18 Pro and iPhone 18 Pro Max component production due to soft demand, and AAPL fell about 2.5% in early trading.
- JPMorgan raised its AAPL price target from $340 to $360 and maintained its Overweight rating.
- JPMorgan says the production cuts are consistent with Apple's usual production patterns.
- JPMorgan expects Apple to sell 8.5 million iPhone Duo units in the December quarter, with iPhone revenue down about 2% year over year and total revenue up about 2%.
- A Securities Times report claimed Apple raised iPhone Duo orders by 30%.
- AAPL closed at $340.97 on the report date.
Quotes
“Apple increased initial iPhone Duo shipments to approximately 10 million units”
“JP Morgan expects Apple to sell 8.5 million iPhone Duo units.”