Market Overview

Tech Analysts Survey Phone Carriers: iPhone Sales Stabilize, Samsung Galaxy Sales Deteriorate

Share:
Tech Analysts Survey Phone Carriers: iPhone Sales Stabilize, Samsung Galaxy Sales Deteriorate
Related AAPL
Intel Is The Semiconductor Sector's Only Candidate For Estimate Raises, Nomura Says In Upgrade
KeyBanc Expects 'Very Good' Q4 Print From Apple, But Predicts Coming Decline In Services, iPhone Revenue
International ADR Strategy Q3 2018 Commentary (Seeking Alpha)

Firsthand checks and carrier surveys suggest Apple Inc. (NASDAQ: AAPL) is seeing "stable" sales of iPhone 8 and iPhone X devices, according to KeyBanc Capital Markets. 

The Analyst

KeyBanc analysts John Vinh and Michael Lin commented on Apple's iPhone sales in a Monday note. 

The Thesis

KeyBanc's checks and surveys with cell phone carrier stores across North America and Europe suggest sales of iPhone 8 and iPhone X devices are in-line with expectations, the analysts said in a research report.

Sales of the iPhone 8 and iPhone 8+ continue to outpace the iPhone X, but the spread in sell-through between the two devices "did narrow somewhat" in May as the iPhone X saw "slightly better" demand, Vinh and Lin said. 

The days of inventory for the iPhone 8 and iPhone X remain flat at around five days, the analysts said. Current inventory levels remain "healthy," which made the analysts "incrementally more constructive" ahead of the upcoming iPhone 9 cycle.

Feedback from carrier stores indicates that store shipments of Galaxy S9 devices "declined significantly" amid "bloated inventories," Vinh and Lin said. A large month-over-month decline in sell-through of the S9 was seen in May, which is also contributing to "continued headwinds" for supply chain partners, according to KeyBanc. 

Price Action

Apple shares were trading 0.14 percent higher at the time of publication Tuesday morning. 

Related Links:

BlueFin Looks At iPhone Demand, Says Decrease In 2018 Models Largely Offset By Older Phones

Apple, Suppliers Drop As Company Cuts Demand For iPhone Parts

Photo courtesy of Apple. 

Latest Ratings for AAPL

DateFirmActionFromTo
Oct 2018WedbushInitiates Coverage OnOutperform
Sep 2018NomuraMaintainsNeutralNeutral
Sep 2018JP MorganInitiates Coverage OnOverweight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Galaxy S9 iPhoneAnalyst Color Crowdsourcing Top Stories Analyst Ratings Tech General Best of Benzinga

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
TEAMKeyBancUpgrades89.0
VIABImperial CapitalUpgrades29.0
AMDBarclaysUpgrades25.0
CDNSJP MorganUpgrades51.0
EBAYRBC CapitalDowngrades0.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

BofA Highlights The Most 'Underowned' Semi Stocks

Mid-Morning Market Update: Markets Mostly Higher; Lands' End Posts Upbeat Q1 Results