Wall Street Trims Apple Estimates on iPhone 5 'Delays' | Cult of Mac

Wall Street Trims Apple Estimates on iPhone 5 ‘Delays’



Word that Apple may not release the iPhone 5 as early as expected prompted some observers to talk of a “delay.” Naturally, Wall Street’s sensitive rumor tripwire went into action, the result the start of analysts downgrading estimates for the iPhone.

Piper Jeffries’ Peter Misek Wednesday morning shaved four percent from his fiscal year 2011 revenue projection, telling investors he expects the Cupertino, Calif. company to rake in $103 billion, rather than his previously estimated $106.9 billion. The fiscal year ends September. More dramatic is the analyst’s double-digit refiguring of iPhone shipments.

Misek sliced 8 percent from his fiscal year iPhone shipments to 65.7 million units, down from his previous 71.7 million estimate. This translates to a 15 percent cut for the June and September financial quarters.

Additionally, the analyst now believes iPhone shipments for fiscal 2012 will be down 6 percent to 89.1 million units, lower than Misek’s 94.9 million units previously forecast.

Monday word came that Apple would not release the iPhone at the upcoming developer’s conference set for June. Traditionally, Apple unveils a new iPhone during this period. However, in announcing this year’s WWDC, Apple said the conference would be a preview of “the future of iOS and Mac OS X.” Instead, Apple likely will introduce its cloud-based data locker, as well as the updated iOS.

Will we see more analysts view the out-of-sync product announcements as a sign of a slowdown for Apple and push the iPhone maker to rush the iPhone 5 release? Will second quarter numbers expected in April reassure the market? Will consumers ignore Wall Street’s worries? Tune in for the next exciting chapter of As the iPhone Turns.

[Business Insider]