Ming-Chi Kuo, a top Apple analyst at TF Securities, believes the tech giant could be slated for more sales with a new smaller and cheaper iPhone.
Ming-Chi Kuo has estimated that Apple’s iPhone shipments could be up 10% year-over-year in the first quarter of 2020.
The analyst predicted that the growth will be partially driven by an unannounced new device he calls the iPhone SE, which he believes will be a low-cost iPhone using the iPhone 8 design with an updated processor.
According to Kuo, the demand for the iPhone 11 is strong and Apple is unlikely to tell its suppliers to expect cuts, partially based on two-week wait times for some iPhone 11 models.
The analyst noted that Apple could ship 37-40 million of the higher-end iPhone 11 Pro and iPhone 11 Pro Max phones in the fourth quarter of 2019. He estimates that Apple could ship 36-40 million of the more inexpensive iPhone 11 models.
“Investors worry Apple will decrease new iPhone shipment forecasts in October as the company used to,” Kuo wrote. “But iPhone 11 series’ general shipping times are currently more than two weeks, and it implies the likelihood of Apple’s order cut is fading away.”
Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) mentioned and have not been compensated for this article.