The market introduction of the highly anticipatediPhone 5G,Apple Inc., could be delayed due to the coronavirus, according to Bank of America (BofA), which cited a conversation with an expert in the company’s supply chain.
The expert Elliot Lan wrote that “the introduction of the iPhone 5G in the fall could suffer a month of delay” and that he hopes that the launch of the iPhone SE2 will be delayed “a few months” due to “the supply problems as well as the environment of weaker demand for theCOVID-19 “.
According to the BofA analyst,Wamsi Mohan, the moment of the introduction in the market of the next models “will depend on how the production increases in April and May”.
Apple shares rose 3.8% in pre-stock trading. The title has fallen more than 10% since arecord closurein February, and most sales are due to the coronavirus. Analysts are concerned about the impact it could have on Apple’s supply chain, as well as its sales.
Also on Friday, Deutsche Bank reduced its target price from US $ 305 to US $ 295, citing a “considerable uncertainty” related to the outbreak.
Earlier this week, the iPhone manufacturer, Hon Hai Precision Industry Co., said it expects its Chinese plants to start operating normally at the end of March.BofA reiterated its recommendation to “buy” and the target price of $ 350. for Apple