UBS estimates sell-through of Apple’s (AAPL) iPhones declined 18% year over year in the month of June as demand fizzled. The firm expects June quarter iPhone units came in around 45M, or up 3.4% y/y, or 1.5M above the firm’s prior estimate, the analyst tells investors in a research note. Continued weakness in the US dollar during the quarter should flip FX to a slight tailwind from prior expectations of a “slight headwind” to revenue in the June quarter, UBS says. The firm has a Neutral rating and $210 price target on Apple shares.
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