As reported by AppleInsider, financial services firm Cowen expects Apple to increase production demand for the iPhone 12 for the second quarter after stellar performance during the holiday quarter.
In an update report on Cowen’s smartphone build seen by AppleInsider, analysts say they’ve updated their forecast for the March 21 quarter for the third consecutive month. Cowen currently believes Apple intends to produce 55 million units of iPhones, a 49% year-over-year increase for the quarter and up from the company forecasted 51 million a month ago.
The company claims that the iPhone 12, iPhone 12 Pro and iPhone 12 Pro Max all exceeded their initial expectations, while only the iPhone 12 mini met or underperformed as expected.
The increase in units is driven by higher demand for three of the four iPhone 12 models, with the iPhone 12 itself rumored to make up 2 million extra units, while the iPhone 12 Pro and iPhone 12 Pro Max added each 1 million in total. Estimates of the iPhone 12 mini are presumably unchanged from Cowen’s previous predictions.
The report also notes that the iPhone is seeing an increase in performance in China, with the latest CAICT data forecasting 6 million shipments in December. This would indicate a multi-year high for Apple and cause the company to achieve a 20% market share in the country.
The good news in China comes during a time when overall smartphone shipments in the country are declining, down 10% in December month-on-month and 13% year-on-year to 26.6 million units. About 6 million of these units were for foreign brands, with Apple consuming the vast majority of that segment.
These forecasts anticipate Apple’s first quarter earnings forecast for 2021. The call is scheduled for Wednesday, January 27, 2021 and is expected to include the company’s CEO Tim Cook and CFO Luca Maestri. The start is scheduled for 2:00 PM PT / 5:00 PM ET.
- According to this source Apple could increase iPhone sales by nearly 50 percent year-on-year for the first quarter of 2021, Cowen says
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