Apple Inc. (AAPL) has reportedly decreased parts orders by 20% for the second half of this year. The company is set to release three new models of the iPhone towards the end of 2018. They expect to ship around 80 million units, 20 million less than last year. In response to the news the stock has dropped over 2% in a day.

Estimize currently anticipates a FQ3 ‘18 EPS of $2.20, one cent higher than Wall Street’s prediction. We anticipate a revenue of $52.779B while Wall Street projects $52.368B. In February, we projected FQ3 iPhone sales to be $47.4M. That sales prediction dropped $3.1M to $44.3M from February to June 5th, and that estimate has dropped $0.6M more over the past two days. We’ll continue to watch this trend and expect it to drop further into the next report scheduled on July 31.