Apple: June iPhone Production Plans Cut, Analyst Says

Collins Stewart analyst Ashok Kumar this morning asserted in a research note is morning that Apple (AAPL) has reduced its planned June quarter iPhone production to 4.6 million units from 5.2 million. Kumar attributed the data to “checks” with Hon Ha i, which manufactures the phone for Apple. He adds that the “rolling forecast” for the September quarter calls for a range of 6.5 million to 7.5 million units, noting that the midpoint of the range would be flat year over year.  Kumar maintains a Buy rating on the stock, but writes that “if current build plans hold, they present a risk to Apple.” AAPL shares today are down modestly for the third straight day in the wake of this week’s spate of product announcements at the Worldwide Developers Conference in San Francisco on Monday. Apple is down $4.24, or 3%, to $138.48; that follows losses of 82 cents Monday and $1.03 yesterday. (link)