We walked away with the sense that the Apple Watch refresh will not occur in September with the iPhone 7, but is more likely to occur within the next 2-3 months, and thus we believe an unveiling at WWDC in June makes sense. We believe Apple Watch 2 could be 20-40% thinner than the current Apple Watch.
That timing lines up with a previous report which said Apple's second generation Apple Watch would enter mass production in the second quarter of 2016. Quanta Computer will reportedly be the sole manufacturer of the device.
White also cites a source who says that the only the 5.5-inch iPhone 7 Plus will get a dual lens camera. This corroborates another report from analyst Ming-Chi Kuo.
As usual the new device would likely help Apple boost sales growth.
Our meeting with a tech supply chain company highlighted a rough end to 2015 with significant forecast reductions from Apple; however, forecasts have been stable since then with 2Q:16 expected to be the trough. After a YoY sales decline in 1Q:16, our contact expects to return to growth in H2:2016. Production of parts of the iPhone 7 are expected to begin in July.
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