Speculation continues to ramp up around the 2020 iPhone lineup, including the so-called iPhone SE 2 and the iPhone 12. Rosenblatt Securities is out with a new investor note detailing its expectations on those new devices, as well as Apple’s production plans for the iPhone 11 until then.

Rosenblatt analyst Jun Zhang says that Apple is in the process of cutting iPhone 11 Pro and iPhone 11 Pro Max production by as much as 25% for the December and March quarters. In total, Zhang predicts that production of iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max will drop 60% quarter-over-quarter in March. This drop in production can be attributed to waning interest in 4G smartphones, according to the analyst.

On the flip side, Morgan Stanley analyst Katy Huberty is refuting Zhang’s claims of production cuts. Huberty says that she has recently met with Apple CFO Luca Maestri as well as supply chain partners over the last two weeks, and that all indications are that the iPhone 11 series is strong across the board, including the iPhone 11 Pro and iPhone 11 Pro Max (via Street Insider).

What’s important to keep in mind is that, more often than not, Rosenblatt is incredibly bearish on AAPL. The firm today reiterated its “Sell” stance on AAPL with a price target of $150 per share. Apple stock is currently trading at around $267 per share.

Other analysts have been far more optimistic so far on the iPhone 11 lineup. Specifically, the iPhone 11 is said to be selling far better than expectations, while the iPhone 11 Pro is also “exceeding estimates in the United States.”

Elsewhere in the same investor note, Rosenblatt predicts that Apple will release a total of six new iPhone 12 models during the fall of 2020. This would include a base model “iPhone 12 4G” with a 6.1-inch LCD panel and dual-cameras on the back, as a followup to the iPhone 11. From there, we’d reportedly get two “iPhone 12 Pro” variants with 5.4-inch OLED displays and dual rear cameras. The difference between those two would be 4G and 5G connectivity.

At the high-end would be the iPhone 12 Pro Plus, available in 4G and 5G variations. There would also be the ultra-premium “iPhone 12 Pro Max,” available only in a 5G configuration.

This prediction is different than Ming-Chi Kuo’s stance on the iPhone 12 lineup. Kuo last week outlined that Apple would release four new OLED iPhones in 2020, as well as the low-cost “iPhone SE 2.” Read our full coverage of Kuo’s report here.

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