Wall Street Starts Cutting Apple Estimates Due To iPhone 5 "Delay"

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Photo: Associated Press

Apple is reportedly pushing back its iPhone and iOS delivery schedule this year.This isn’t necessarily an unplanned “delay” — it could just be a planned deviation from its routine — but it could have a similar effect.

As a result, Wall Street analysts are starting to trim their Apple estimates for the fiscal year, as Apple won’t have the same summer “bump” from a new iPhone launch.

Jefferies analyst Peter Misek, for example, announced the following cuts in a note today:

  • FY 2011 revenue trimmed 4% to $103 billion from $106.9 billion (Apple’s fiscal year ends in Sept.)
  • FY 2011 EPS trimmed 5% to $23.03 from $24.17 (still above $22.93 consensus)
  • FY 2011 iPhone shipments cut 8% to 65.7 million from 71.7 million (basically a 15% cut for the June and Sept. quarters)
  • FY 2012 iPhone shipments cut 6% to 89.1 million from 94.9 million

As we explained on Monday, the iPhone program’s “delay” could be good long-term news for Apple if it means the company is working on radically improved iPhone software, hardware, and “cloud” services.

But in the meantime, there could be a bunch of analysts re-doing their models, which could potentially put some pressure on the stock.

Previously: Here’s Why Apple’s iPhone “Delays” Might Actually Be A Good Thing

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