J.P. Morgan on Tuesday became the second brokerage in two weeks to cut its forecast for Apple Inc.’s iPhone sales for the crucial holiday quarter as the global chip shortage and factory closures in Asia finally catch up to the technology giant.
The brokerage trimmed its iPhone revenue estimate to $63 billion for the first quarter of fiscal 2022, which would be a yearly fall of nearly 4 percent, analyst Samik Chatterjee said in a note to clients.
