As iPhone X demand declines, J.P. Morgan lowers forecasts

A new report from CNBC outlines some new information from J.P. Morgan about expected iPhone sales in 2018. An analyst from the firm, Bill Peterson, explains that its research partners in Asia have reduced their estimates for iPhones being built in Q1 and Q2.

Taking in account our new expectations for smartphone demand, we take down our March quarter, June quarter and full year estimates for wireless companies under coverage.

As a result, the Asian supply chain analysts lowered their iPhone X production forecasts to 55 million from 60 million for Q1, and 45 million from 50 million in Q2….

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