JP Morgan lops 400,000 units off of its second quarter performance estimates.
Reuters reports that investment bank JP Morgan has lowered its 2Q and fiscal 2009 Apple earnings estimates.As far as iPhone is concerned, the bank now reckons Apple will ship 3.4 million units in 2Q, compared to its earlier expectation of 3.8 million units.
Analyst Mark Muskowitz justified the revisions by saying the effects of recession could be more challenging for consumer electronics than first thought.
He also cut 2Q Mac computer shipment estimates from 2.39 million to 2.19 million.
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