CITI: Demand For iPhones And iPads Is Shrinking

Citigroup’s trio of Apple analysts have a very negative note for investors this morning.


They say demand for Apple’s two main product categories — the iPhone and the iPad — has “softened.”

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They cut their estimates for iPhone unit sales this quarter. For the current March quarter, they are estimating 34 million units sold, down from the previous estimate of 35 million units. For the June quarter they are calling for 25 million units sold, which is well below the consensus of 32 million units.

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