Special Report: iPhone 2020: What to expect?
Apple's much-anticipated 5G iPhone may be delayed due to a coronavirus outbreak, Bank of America (BofA) said in a report today.
BofA's conclusion came after talking to Apple supply chain expert Elliot Lan, who believes that the iPhone 5G originally scheduled for release this fall will be postponed for one month.
Normally, Apple releases a new iPhone every September.
It is also because of the epidemic that Elliott Lan also expected that the release of the iPhone SE2 will be delayed by "a few months". One is the supply chain problem, and the other is the weak market demand caused by the epidemic.
BofA analyst Wamsi Mohan said in the report that the specific release time will "depend on the recovery of production in April and May."
In pre-market trading today, Apple's stock price fell 3.57% in early monrning trading in the U.S. Compared with the February high, Apple is estimated to have fallen more than 10%. The main reason is still affected by the epidemic, analysts worry that this may have an impact on Apple's supply chain and sales.
With a large amount of cash, potential stock buybacks, and a 5G upgrade cycle, Bank of America continues to maintain a "buy" rating on Apple stock and a target price of $350.
But just today, Deutsche Bank cut its Apple stock price target from $305 to $295, citing "quite considerable uncertainty" related to the outbreak.
Earlier this week, iPhone maker Foxconn said that it expects domestic factories to begin normal operations by the end of March.
