JPMorgan predicted Apple's December quarter financial results and March quarter guidance will come in under Wall Street estimates due to lackluster iPhone sales.
"We believe guidance for FQ2 [fiscal second quarter]... is likely to be lower than many expect on weaker iPhone unit volume ... At the current share price we doubt Apple deals with short term hiccups well," analyst Rod Hall wrote in a note to clients Monday. "Having said that we believe the stock remains a strong value opportunity assuming the board will eventually pay a higher dividend. We also buy into the consensus view that the iPhone cycle should be better this year."
Apple will report fiscal 2017 first quarter results on Jan. 31, according to its website.