Morgan Stanley: Apple To Cut Production Of High Margin Products
Douglas Kass @DougKass
Morgan Stanley Tech notes this morning indicates more production cuts likely in higher margined Apple products. $AAPL
3:28 PM - 07 Mar 13
NEW YORK (TheStreet) -- Apple (AAPL_) has reportedly cut production of both the iPad and iPad mini, taking estimates way down.
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According to DigiTimes, the tech giant has lowered its shipping estimates for the iPad to 33 million, way down from 60 million. However, it's drastically upped the estimates for the iPad mini, moving to 55 million, up from 40 million. Overall, Apple lowered its year total estimate to 88 million tablets, down from 100 million.
This rumor comes after several analysts have cut earnings estimates for both the iPhone and iPad. Last week, Credit Suisse cut its estimates on iPhone concerns, while Barclays Capital and Citi took down estimates on both products for various reasons.
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