https://wccftech.com/apple-stock-down-on-news-of-lower-pre-orders-on-iphone-xs-xs-max/

Apple (NASDAQ:AAPL) is taking a bit of a beating today on news that total preorders on both the iPhone XS and the XS Max are “weaker compared to iPhone X Preorders” according to Rosenblatt Securities analyst Jun Zhang. By examining the wait times and projected weekly volume from the supply chain manufacturers, Zhang believes there to be approximately 35 to 36 million iPhones to be made in the September and December quarters.  This is around what it was last year for the iPhone X.

While Zhang called out Apple on his pre-order concern, he still kept his price target of $200 and “buy” rating on the stock. Jeffrey Kvall from Instinet also dug into preorder trends but kept his rating as “neutral” with a $210 price target. Last week, Goldman lowered its fiscal 2019 earnings per share estimate from $14.53 to $13.77, keeping the rating as “neutral.”