The 20th anniversary all-glass iPhone might not happen after all

However, now Lee says the phone might never arrive. Citing “supply chain checks” and “soaring memory costs,” the analyst says Apple’s plans for “all-glass features” on future iPhones have been canceled “due to low yield” or not enough return on investment. Presumably, the phone would have cost too much to produce.

In response, he downgraded Apple’s rating to Underperform (Sell) on the basis that the move is “a major setback to efforts to bring in higher-priced iPhones.” AAPL dropped more than 2 percent on the advice.

We’ve been getting regular reports about the so-called 20th anniversary iPhone for more than a year, as Apple gears up to mark the milestone with a special-edition model, much as it did with the iPhone X in 2017.