Wedbush cuts iPhone revenue estimate by 14% for 2020 due to coronavirusDan Ives also predicts that revenue will be down 10% in 2021.
What you need to know
Wedbush has cut its predictions for iPhone revenue this year and next.
Dan Ives has lowered revenue estimates by 14% for 2020.
He believes that the COVID-19 pandemic will stop "switchers" and "new-buyers" from moving to iPhone.
Analyst firm Wedbush Securities has cut its revenue estimates for iPhone in 2020 and 2021 due to the COVID-19 pandemic.
As reported by AppleInsider:
In a research note to investors seen by AppleInsider, Daniel Ives from Wedbush Securities is lowering iPhone revenue estimates by 14% in fiscal year 2020 and by 10% in fiscal year 2021 to reflect the change in near-term consumer demand, lockdown conditions globally, and a "negative economic backdrop." Practically, Ives believes that during the coronavirus pandemic, people looking to upgrade an iPhone still will do so, but "switchers" and new-buyers will wait, or not get an iPhone at all.
Ives reportedly believes that on...
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Wedbush cuts iPhone revenue estimate by 14% for 2020 due to coronavirus
