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Top analyst: Early Apple iPhone 6S sales are weak

Apple CEO Tim Cook introduces the new iPhone 6s and 6s Plus at Bill Graham Civic Auditorium on Sept. 9, 2015, in San Francisco.
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Apple CEO Tim Cook introduces the new iPhone 6s and 6s Plus at Bill Graham Civic Auditorium on Sept. 9, 2015, in San Francisco.

Early evidence is suggesting demand for the iPhone 6S may be meaningfully lower than last year's model, according to a top-ranked technology analyst.

Andy Hargreaves of Pacific Crest wrote a provocative note to clients on Wednesday evening showing Google search volume, device shipments availability, third-party surveys and a lack of quantitative statements from Apple and the wireless carriers all point to weak iPhone demand.

Hargreaves is one of the top analysts on Wall Street. His picks average a 33 percent one-year return with a 70 percent success rate and he is ranked in the top 1 percent of all analysts, according to TipRanks.com.

Here's why he believes iPhone demand is weaker…

1) Google search volume much lower than last year:

iPhone 6S search volume is 75 percent below last year's iPhone 6 and 25 percent lower than even the iPhone 5S according to Google Trends, said Hargreaves.


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