Apple (AAPL) analyst Ming-Chi Kuo says his latest industry survey shows that Apple iPhone 16 orders were cut by around 10M units for 4Q24-1H25, with most of the cuts affecting non-Pro models, and as a result, iPhone 16 production for 2H24 is now estimated at 84M units, down from around 88M previously. Following these cuts, Kuo says total iPhone production for 4Q24, 1Q25, and 2Q25 is now forecast at around 80M, 45M, and 39M units, respectively, down from around 84M, 48M, and 41M in 4Q23, 1Q24 and 2Q24, respectively. While some market participants are optimistic that Apple Intelligence could dramatically boost iPhone shipments soon, Apple’s recent order cuts suggest this optimistic expectation may not materialize in the short-term, Kuo argues.
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