Analyst cuts his forecast of iPhone sales to 38.8 million for fiscal Q2

Some analysts on Wall Street have already said they expect Apple to report lower than expected iPhone sales for the company's fiscal second quarter, which ended in March. The report is expected to be released next Tuesday, May 1st, after the market closes for the day. Today, another respected Apple analyst joined the club. Bernstein's Toni Sacconaghi told clients that he has cut his estimate of iPhone sales for the period to 38.8 million units; he originally forecast that Apple would sell 41 million handsets. Wall Street, on average, sees Apple ringing up 43 million phones for the quarter.

During ...