Rosenblatt analyst Jun Zhang estimates that Apple is making 3 to 4 million per week.
From a note to clients that landed on my desk Tuesday:
Our research suggests iPhone X production has increased to 3 million units/ week and could increase to 4 million units/week in December. Therefore, we are increasing our December quarter iPhone X shipment estimates from 27 – 28 million to 30 million units and reduce our March quarter estimates from 45 million to 40 million units.
In our view, iPhone X sell through remained solid through Black Friday. We estimate iPhone X sell through of 15 million units so far with about 6 million iPh- one X units sold during the Black Friday season. We also believe demand for the 256GB model is twice that of the 64GB model, a positive for ASP and gross margin. Apple could also receive the best annual NAND price quotation (likely down 15% YoY) for 2018.
Buy. $180 price target.
My take: Even Zhang, who maintained a Neutral rating on Apple for nearly two years, thinks it’s going to be an iPhone Christmas.