Analysts raise sales forecasts on better than expected iPhone 11 sales

Analysts at Cowen have now raised the sales estimates of iPhone to 47 million this quarter. Cowen analysts have increased the number by 3 million, the main reason behind it is the iPhone XR sales. Yes, due to the $150 price cut, the iPhone XR is really selling well across the world. In addition to the iPhone XR, Apple’s new iPhone 11 models including the affordable iPhone 11 is driving better than expected sales for Apple.

Analysts at JP Morgan have also increased the sales estimate of iPhone by about 4 million for the upcoming quarter. JP Morgan noticed strong sales trend around the new iPhone 11 models.

Despite the strong sales of the new iPhone 11 models, the overall unit growth of iPhone is expected to be same as previous year. Analysts expect that 2020 iPhone models with 5G will put iPhone sales back on track.

Source: AppleInsider

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