Apple Falls After Analyst Claims It's Cutting Back On iPhone Orders For The Second Half Of The Year (AAPL)

Asa Mathat | D: All Things Digital

Apple's stock is down ~1% this morning after a report from Brian Blair at Wedge Partners claimed the company was cutting iPhone orders for the second half of the year.?

In the note, he says Apple cut second-half production by 20% for all iPhone models, "likely in response to what appears to be slowing demand for high-end handsets globally."

He says Apple will produce 90-100 million iPhones in the second half of the year, down from its original estimate of 115-120 million units.?

This estimate includes the unreleased iPhone 5S, the unreleased low-cost iPhone, the iPhone 5, and the iPhone 4S.

If this forecast proves to be accurate, Apple's iPhone sales would still be up ~26% on a year-over-year basis. In the second half of calendar year 2012, Apple sold 74.7 million iPhones.?

iPhone forecasts are going to be tough to make for analysts right now.?

They don't know when, or if, Apple is releasing a new low-cost iPhone. They don't know where or how it's going to be distributed. They don't know the price of said phone.?

Source: http://www.businessinsider.com/wedge-partners-iphone-orders-2013-7

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