Rosenblatt analyst Jun Zhang tracked iPhone pre-orders in key markets over the weekend and believes overall iPhone 11 orders are 15%-20% lower than iPhone XS pre-orders last year. Many of the new iPhone 11 models have a one week wait-time, while some models, such as the dark blue, purple, and green models, have a two-to-three week wait-time, Zhang tells investors in a research note. The analyst believes the wait times for the iPhone 11 models are similar to the wait-times of the iPhone XS/Max and XR last year. Zhang estimates initial production of 5.5M iPhones before the end of September, compared with initial production of 7.8M for the iPhone XS Max before the end of September last year. The analyst keeps a Sell rating on Apple shares with a $150 price target.

Apple saw sales of its iPhones fall 19.1% in the first three months of the year, CNBC's Ryan Browne reports, citing data from Counterpoint Research. Meanwhile, Huawei saw a 69.7% surge in smartphone sales in the country during the same period, Counterpoint said. Reference Link