Apple iPhone sell-through down 1% in June quarter

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<span>© Reuters. Apple (AAPL) iPhone sell-through down 1% in June quarter – UBS</span><br />
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<p>Apple’s (NASDAQ:) iPhone sell-through in the June quarter was down 1%, partially offset by 7% growth in China, UBS analysts said in a note Tuesday.</p>
<p>The analysts, who have a Neutral rating and $195 price target on AAPL shares, explained that iPhone sell-through in the month of June came in at 15.4 million units, up 2% YoY against a 9% decline in June 2022, resulting in a 1% decline in the quarter. In the US, sell-through was down 14%.</p>
<p>“While sell-through in June eked out slight growth, results varied wildly by region. The US remained weak in the month of June, declining 9% YoY (driven by weak upgrade rates at Verizon, AT&amp;T, and T-Mobile) while China sell-through was up ~4% driven by demand during the 618 E-commerce festival,” they explained.</p>
<p>“Europe sell through declined ~1%, the 19th straight monthly decline. However, given easing comps in Europe (+190bps MoM) in July, we expect unit sell-through to be flattish to modestly up in this region next month.”</p>
<p>The analysts concluded that demand in India remains solid, up 67% YoY, but they added that the region only accounted for 650,000 units or about 4% of total units, “essentially flattish with the prior 5 months.”</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/apple-iphone-sellthrough-down-1-in-june-quarter–ubs-432SI-3140712">Source link </a></p><p>The post <a href="https://forextraderhub.com/apple-iphone-sell-through-down-1-in-june-quarter.html">Apple iPhone sell-through down 1% in June quarter</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>