Bank of America cut its 2027 iPhone shipment estimate for Apple to 247 million, below Wall Street's 260 million. Its Buy rating and expected margin gains later in fiscal 2027 do not erase the lower shipment estimate and rising parts costs.
Later launch dates could shift some phone sales into a later period, and higher parts costs may squeeze profit. Bank of America expects margins to improve late in fiscal 2027, but its lower shipment estimate points to fewer sales than Wall Street expects.
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