BofA removes Apple from US 1 List, slashes iPhone sales estimate, flags memory-price margin pressure

BofA removed Apple from its U.S. 1 List, lowered its F27 iPhone estimate by 9 million units to 247 million (versus Street at 260 million), and warned Wall Street is significantly underestimating the impact of rising memory prices on margins, seeing a gross 900bps impact on iPhone gross margins.

Detected & updated continuously · Source: Nebula