Analyst: This Could Hurt Apple Earnings

William Blair analyst Anil Doradla has cut his iPhone sales estimate to 26.5 million from 33 million for the last quarter, citing persistent supply constraints for the latest version of the Apple (NASDAQ:AAPL) smartphone. Apple is set to announce earnings for the September-ending quarter on October 25.

“Since unveiling the iPhone 5 last month, consumers have faced significant delays in receiving the phone,” Doradla wrote in a note to investors. “In our opinion, Apple’s inability to keep up with demand is being amplified by its aggressive global launch schedule and the company reducing its exposure to its traditional partner, Samsung.”

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However, the analyst said his checks around retail stores in North America found that the delays had not resulted in customers seeking the new iPhone switching brands, instead preferring to wait for the device to become available. In addition, the shortage for the new phone as well as the price cuts seen by older versions of the device have led to increased and “better-than-expected” sales for those models.

For the fiscal first quarter ending in December, Doradla expects shipments of 45 million, down 1 million from his previous forecast.

Gabelli analyst Hendi Susanto also lowered estimates for Apple’s results, accounting for the iPhone 5 launch and reportedly weak PC shipment data.

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