Midday Wrap: Apple iPhones Gets Bullish Call, Tesla Deliveries May Fall Short

Credit: The Street
Published on September 30, 2019 - Duration: 00:57s

Midday Wrap: Apple iPhones Gets Bullish Call, Tesla Deliveries May Fall Short

JPMorgan expects Apple to ship volumes of around 44 million in the quarter ended December with that figure rising to 63 million the following quarter driven by demand in 5G phones.

Apple unveiled its new suite of iPhones earlier this month, and JPMorgan expects the iPhone 11, iPhone 11 pro and iPhone 11 pro max to be the largest driver of Apple smartphone shipments over the next 12 months.

The firm forecast 185 million unit sales in 2019 with that number jumping to 198 million units shipped in calendar 2020.

Tesla shares are down on a report that the company will miss its 100,000 vehicle delivery estimate for the quarter.

This comes less than a week after CEO Elon Musk sent a company email saying that the company was well-positioned to do so.

Media got hold of the letter, which sent the stock rising on the news.

Sources told Electrek that Tesla was "a few thousand" cars short of its delivery goal.

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