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One Reason Why Apple (AAPL) Stock Is Lower Today

NEW YORK (TheStreet) -- Apple (AAPL - Get Report) stock is declining by 1.66% to $108.03 in late-morning trading on Monday, after Maybank warned that sales of the company's iPhones might hit their lowest level since 2014 in the June quarter.

Maybank estimates that Apple will ship between 35 million and 40 million units during the period, below estimates for mid- to high-40 million units, Barron's reports. This would be more than a 20% decline year-over-year.

"The higher mix of 6/SE models could pose risk to iPhone's blended ASP and profit margin," Maybank explained.

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