Apple iPhone 5S release pushed back, Citi analyst says

Apple CEO Tim Cook speaks during Apple's special

Apple CEO Tim Cook speaks during Apple's special event to introduce iPad Mini at the California Theatre in San Jose, Calif. (Oct. 23, 2012) Photo Credit: Getty Images

advertisement | advertise on newsday

Apple's launch of the iPhone 5S will be pushed back to August or September, a Citibank analyst said in a research note.

CNET reported that analyst Glen Yeung said that "volume production issues" likely were the cause of the delays.

advertisement | advertise on newsday

Yeung's note released Sunday also said that Apple plans to roll out a version of its lightweight MacBook Air notebook computer with its "retina" high resolution display.

The iPhone 5S is expected to be an incremental upgrade to the iPhone 5, but Yeung said that the next-generation iPhone 6 with a larger screen likely will not be introduced in 2013.

Apple will report earnings on Tuesday. The computer giant is expected to post an 18 percent decline in second quarter earnings to $9.53 billion, or $10.02 a share, according to the consensus of analysts surveyed by Bloomberg.

Shares of Apple were trading at $392.65 before the market opened Monday. The stock has taken a tumble since hitting a 52-week high of $705.07 on Sept. 21, 2012.

The latest LI business news in your inbox daily. Get the Biz Briefing newsletter!

Comments now uses Facebook for our comment boards. Please read our guidelines and connect your Facebook account to comment.

You also may be interested in: