FBR Says Apple Cuts Calendar Q1 Build Rates On iPod, iPhone, MacBooks; But Ups iMac Production
Apple (AAPL) has reduced its production plans for the iPod, the iPhone and the Mac, according to Friedman Billings Ramsey chip analyst Craig Berger.
In a research note yesterday, Berger writes that “recent checks show that Apple has cut both its iPod and iPhone build plans for calendar 1Q.” He says that for both iPods and iPhones, Apple was previously targeting a roughly 50% sequential decline in units produced, but that the company is now targeting a 60% decline.
Berger says the iPod Touch has seen the largest negative revision versus checks last month, “suggesting demand pull for this part has fallen off versus prior expectations.”
Berger says that the trend is negative for both Broadcom (BRCM) which sells the touch-screen controller for both the iPhone and the iPod, and for Marvell (MRVL), which sells WiFi chips for the iPhone.
As for the MacBook, Berger says Apple has cut its calendar Q1 build forecast to down 50%, from down 35%. But he says the company has increased its forecasts for the iMac, going from flat to up 35% quarter over quarter.
Apple today is down $4.92, or 3.8%, $124.44. Marvell is down $1.05, or 8.9% or $10.72; Broadcom is down 88 cents, or 4%, or $20.94.
