Poor iPhone sales: Apple's stock price or downstream

Recently, there have been many analysts to Apple's future stock price movements pessimistic.

As of December 23, Apple (AAPL.O) shares rose 7.3 percent this year, the latest closing price of $ 108.61.
Major Wall Street investment bank had been on Apple's rating is "maintenance" or "up", ranging from 20% to 40% range, can be an indisputable fact is that the last month of 2015, Apple's stock price fell by about 10% .

From the data, Apple's 2015 fiscal year was the most successful year ever, revenue rose 28 percent, to nearly $ 234 billion.

But the real story may be another version. Recently, a report from Credit Suisse analyst Binder Gard investigation report attracted investor attention. He mentioned in the report, in a recent inspection orders Apple Asian supply chain, we found that the order submitted by Apple for the iPhone is lower than originally expected.

Apple's current business has been mainly dependent on the iPhone. From fiscal year 2012 to fiscal year 2015, iPhone accounted for the company's revenues, respectively, 46.38%, 52.07%, 56.21% and 62.54%. Remove outside the iPhone, although the Mac revenues are growing, but are still far compared with the iPhone. iPad sales still tepid, iPod business is dispensable. In response, Apple currently does not have any B plan.

"Adverse news from the supply chain will continue to weigh the next few weeks in Apple's stock price, if the situation does not improve, and may even affect a few quarters." Gal Charles wrote in its report. Clearly, Apple users on the demand for iPhone 6s still hold more conservative attitude.

Recently Apple has been working on supply chain orders iPhone 6s were cut, according to Apple's current orders before November manufacturer for Apple to provide 70 to 75 million sets of iPhone, and after a few months, this number will dropped to between 45 million to 50 million.

December 23, according to CNBC reported that UBS (UBS) analyst Steven Milunovich (Steven Milunovich) said that Apple iPhone has the opportunity to expand in emerging markets population coverage and improve the usefulness of the device, but the company The top-selling product is facing short-term difficulties.

Milunovich program in an interview with CNBC interview, said: "I think the iPhone in the next one to two quarters will face some difficulties in the first quarter next year we believe that iPhone shipments will decline to roughly unchanged. . "

Milunovich said that for the iPhone Google search traffic in the United States declined, in addition to the growth in China searching for the decrease in the iPhone is also great, down from 80 percent growth in the previous to the current 15%. In his view, this situation with the iPhone 6 in the first year of China's listed in stark contrast.

Milunovich on Apple stock still adhere to a "buy" rating, but the UBS price target from $ 150 down to $ 130. Recently, there have been many analysts on the future trend of Apple's stock holding more pessimistic attitude.

Milunovich believes that investors need to see iPhone sales increase. However, due to the competitive market is not enough, Apple's future will be to maintain a dominant position.