Apple (AAPL) - Get Apple Inc. Report reportedly plans to ship just 15 million to 20 million mmWave-enabled 5G iPhones this year, down from previous estimates of 30 million to 40 million, knowledgeable sources told Digitimes.
This seems to confirm previous reports that Apple’s new lineup will include iPhones operating on both the slower sub-6HGz 5G standard, and the much faster mmWave 5G one. mmWave 5G, however, has a short range that only works in certain areas. It's unclear which of Apple's expected four iPhones to be launched later this year will contain which standard.
According to Apple Insider, other sources say Apple’s regular September launch for new iPhones may get pushed back to October, or even later.
Apple supplier Broadcom (AVGO) - Get Broadcom Inc. Report has said it doesn't expect its profits to rise until the fourth quarter because of a "major cycle delay" at a company assumed to be Apple, Apple Insider reports.
In light of this move, “for Apple, we expect the firm will enjoy some gross margin expansion in its Mac PC line in the coming years,” Morningstar analyst Abhinavi Davulur wrote in a report after the announcement.
Apple recently traded at $364.11, up 0.64%. The stock has soared 46% over the past three months. That compares to a gain of 32% for the Nasdaq Composite.