Research from an investment bank says Apple iPhone 6s sales have been “disappointing” thus far. Pacific Crest Securities expects sales to reach 67 million units, which is well below many analyst expectations of 76 million units through the fourth quarter of 2015.
Apple refutes the claim, suggesting sales have been good. The device giant said it saw record sales after the Sept. 25 launch of the latest iPhone, selling 13 million units in the first three days. But since then, Pacific Crest says component orders from suppliers have dropped causing concern for future sales.
A survey conducted by Pacific Crest suggests demand is below expectations. “In contrast to the launch of the iPhone 6 last year, we note: … less than 10% of the carrier stores we surveyed have been sold out of iPhones; last year, carriers didn’t have iPhone stock on hand until November.”
“Almost all carriers surveyed indicated that iPhone 6s sales were down [year-over-year] compared to the iPhone 6,” the study adds.
Pacific Crest says its study is based on “supply chain conversations,” which suggest “Apple has lowered Q4 component orders in response to disappointing sales following the first week of launch.” Feedback from sources suggest a 15% reduction in Q4 orders.
The good news for Apple, according to Pacific Crest analyst Andy Hargreaves, is the firm expects gross margins for the newest iPhone to remain stable.
“Despite our concern about near-term iPhone units, the extraordinary stickiness of Apple’s iOS platform and its ongoing cash-return program are likely to limit multiple contraction from current levels, which should limit downside,” Hargreaves explained.
Last year, Apple sold 74.4 million units of the iPhone 6 shattering previous records.
