iPhone X: Nomura Sees ‘Signs Of Trouble’, Services Business Comes To Rescue

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iPhone X: Nomura Sees ‘Signs Of Trouble’, Services Business Comes To Rescue
Image Source: Apple.com (screenshot)

Wall Street analysts have been painting a gloomy picture of the iPhone X sales for months. Most analysts have reduced their estimates for 2018 iPhone sales due to lukewarm demand for the iPhone X. Back in January, KGI Securities analyst Ming-Chi Kuo told investors that Apple had asked its suppliers to cut iPhone X production by as much as 50%. Now analysts at Nomura have reminded clients that the iPhone X sales were “flagging.”

Apple CEO Tim Cook told investors during a conference call that the anniversary iPhone sales “surpassed our expectations.” It helped Apple post record revenues during the holiday quarter and increase the iPhone’s average selling price (ASP) to $796. Co