Analyst predicts iPhone sales slowdown

It's easy to get carried away with iPhone hysteria, thanks to the 500 million-plus downloads from the App Store, and the feeling that in certain social circles (okay, game developers), everyone is getting an iPhone.

However, JP Morgan analyst Mark Moskowitz isn't of that opinion. On Friday, he lowered his price target on Apple's stock from $102 to $100, and warned of slowing sales of the iPhone, as well as Macs.

"Inputs from our primary research contacts suggest that Mac and iPhone volumes had been trending below our prior expectations," he wrote on Friday, explaining his decision.

Moskowitz thinks Apple is now likely to sell 3.4 million iPhones this quarter, rather than the previously predicted 3.8 million.

Naturally, this won't puncture the enthusiasm of many game developers around the device, and nor should it. But it's a timely reminder that even Apple isn't necessarily immune from the effects of a wider economic slowdown.