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<\/div>\nCowen’s iPhone build forecasts remained unchanged in July, though smartphone demand generally is continuing to improve from COVID-19 impacts as Apple shifts its focus to the “iPhone 12<\/a>.”<\/p>\n In a note to investors seen by AppleInsider<\/em>, lead analyst Krish Sankar said that Apple’s iPhone builds finished out the June quarter at 35 million units. That’s a 12% decrease year-over-year and a 5% decrease from the previous quarter.<\/p>\n<\/div>\n On the other hand, global smartphone demand is continuing to improve in the wake of coronavirus<\/a>. Because of that, Cowen is shifting their focus to the “iPhone 12” lineup.<\/p>\n<\/div>\n “While we expect the next iPhone to launch in C4Q20, production volumes and availability could be marginally slower due to the impact of COVID-19 on overall development timelines,” Sankar wrote. “We view this shift in volume production by a month or two to not be material in the long term.”<\/p>\n<\/div>\n The analyst adds that Cowen’s third quarter forecast remains unchanged at 40 million units. As a 14% quarter-over-quarter increase, Sankar said that it would be a “positive for sentiment in AAPL shares.”<\/p>\n<\/div>\n Sankar adds that the expected unit mix of the upcoming “iPhone 12” models is estimated to be 25%, instead of 66% in the third quarter of previous years.<\/p>\n<\/div>\n The analyst’s build forecast for the December quarter, 73 million, is up from earlier predictions of 69 million. That will include an 81% mix of new “iPhone 12” models. “Total ‘iPhone 12’ units in C2H are estimated at 70M vs ~84M for the prior two iPhone cycles,” Sankar wrote. He added that total iPhone builds in 2020 are tracking to 185 million, a 6.6% decrease year-over-year.<\/p>\n<\/div>\n As far as the broader smartphone market, Cowen is shifting its global handset unit forecast to a decline of 12% year-over-year, an improvement over the previously predicted 18%.<\/p>\n<\/div>\n Cowen’s 12-month price target for AAPL remains unchanged<\/a> from June 22 at $400 a share. That bump, up from $335, was attributed to Apple’s transition to Apple Silicon<\/a> and the upcoming 5G iPhone cycle.<\/p>\n<\/div>\n<\/div>\n Tags:<\/b> Mike Peterson<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"\n\n\n\n\n\n\n\nSee Campaign: <\/strong>https:\/\/appleinsider.com\/inside\/iphone-12<\/a>
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Mike Peterson<\/p>\n
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Cowen’s iPhone build forecasts remained unchanged in July, though smartphone demand generally is continuing to improve from COVID-19 impacts as Apple shifts its focus to the “iPhone 12.” In a note to investors seen by AppleInsider, lead analyst Krish Sankar said that Apple’s iPhone builds finished out the June quarter at 35 million units. That’s … Continue reading Smartphone demand continues to improve ahead of ‘iPhone 12’ launch<\/span><\/a> Continue Reading