Now beancounters at JP Morgan, often upbeat in its Apple predictions have been consulting the entrails of a fat ram and reached the conclusion that the iPhone X is as doomed as the political career of Matteo Renzi.
JP Morgan has reduced its production estimates of the Apple iPhone X by 25 percent from 20 million in Q1 to 15 million. Meanwhile, analyst Narci Chang also lowered forecasts by 44 percent from 18 million units to 10 million for Q2.
When it comes to the sale of iPhones overall, Q1 forecast was reduced to 52M from 55M while Q2 was decreased to 42M from 45M, not as much of a reduction, but still a decline nonetheless. This is actually - the second one by J.P. Morgan.
The Tame Apple press (TAP) is suffering from an existential crisis. After all, while they were busy telling the world that the iPhone X was the best thing since sliced bread and people would sell their grandmothers to buy an iPhone X it was only magazines like Fudzilla which were warning people that Apple's glory days were gone. TAP is trying to see the bright side, claiming that Apple is still making piles of money. They insist that because some fanboys were dumb enough to waste $1,200 on the turkey, Apple had somehow proved that consumers are willing to spend a lot of money on a handset.
Some even have pointed out that Apple saw growth in iPad Apple Watch sales with the launch of its mobile-enabled Apple Watch Series 3 so everything is really happy in Apple land, even if no one sane wants to buy its primary product any more.