Analyst: Strong dollar whacks iPhone sales

April 9, 2015 6:31 PM

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Demand for the iPhone appears strong. Apple is likely to sell 60 million iPhone’s into the distribution channel during the first quarter as demand for the product is 64.4 million units, according to a new report from UBS analyst Steven Milunovich.

But UBS cut what it expects the company to earn this fiscal year by 1.5%. Why the decline in profit forecasts, despite strong iPhone sales? Milunovich says the average selling prices of iPhones could fall 5% compared with year-ago levels. The hit from the weak dollar is even stronger now that last y...

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