Apple(US:AAPL) 智通财经网·2025-07-02 03:53Core Viewpoint - Jefferies has downgraded its smartphone shipment forecasts for 2025 to 2027 due to a deteriorating outlook influenced by various factors, including U.S. tariff policies, lack of innovation, uncertain economic prospects, high Android inventory, and diminishing Chinese subsidies [1] Group 1: Smartphone Market Outlook - Jefferies has reduced the overall smartphone shipment expectations for 2025 to 2027 by 2% to 4% [1] - The firm noted that the second quarter of 2025 saw a pull-forward demand driven by U.S. tariff policies, but challenges are anticipated in the latter half of the year [1] Group 2: Apple iPhone Performance - Despite the overall smartphone market instability, Jefferies raised its iPhone shipment forecast by 4% due to pull-forward demand and extended discount activities during the "6·18" sales event in China [1] - The industry survey indicated that iPhone sales during the "6·18" event grew by 19% year-on-year, significantly higher than the previous year's 7% growth [1] Group 3: Android Device Performance - In contrast, Android devices experienced minimal growth during the "6·18" event, with a likely year-on-year decline of 4% in sales [1] - High inventory levels (approximately 50 days) prior to "6·18" contributed to the poor sales performance of Android devices, indicating ongoing pricing pressure in the second half of the year [1]