Bank Goldman Sachs has once again chipped into prospectus on the iPhone’s sales performance for the next two quarters as well as further prognostication on this September’s upcoming models.
CNBC reports that the finance firm has cut first-half sales targets by 4.9 million with most of the cuts happening in the second calendar quarter. 53 million sales are expected in the March quarter while only 40.3 million sales are now seen for the June quarter.
But if you think it’s just the iPhone X’s weak shelf standing plaguing Apple in unit sales, think again: not only has Goldman cut shipment goals for this fiscal year by 2.5 percent, but it has also made revisions downward for fiscal 2019 and 2020 — by 4 percent and 1.8 percent respectively. On the positive side, the bank believes that while average unit sales price will come below market consensus this year, it will actually go up in the following two years — premium-above-premium seems to be a long play here.
“We believe that consensus forecasts continue to miss the impact of a potential mix shift toward higher priced X phones,” the research note reads, “even though our own ASP expectations are tempered somewhat by the addition of the relatively lower priced (compared to OLED models LCD X phone.”
Analysts now see three new iPhone models this year, one being a more affordable LCD display and two with differently-sized OLED displays. Goldman says that the smaller OLED variant will start at $949, $50 less than last year’s iPhone X.