Top analyst: Early Apple iPhone 6S sales are weak

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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.
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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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