Target Returns iPhone SE Stock Ahead of Apple's Rumored March Event

Target this week instructed its stores to return a number of iPhone SE models to Apple by today, March 1, according to a company memo obtained by MacRumors.

iPhone SE devices that are to be returned include six unlocked 16GB and 64GB models in Gold, Silver, Rose Gold, and Space Gray, and two Sprint models.

An anonymous employee informed us that her Target store had not received iPhone SE stock since before the iPhone 7 was announced in September 2016.

While there are many possible reasons for Target to send back iPhone SE stock, such as poor sales of select models, the move comes just days or weeks before Apple's rumored March event, where a 128GB iPhone SE may be announced. However, no other hardware changes have been rumored.

KGI Securities analyst Ming-Chi Kuo said an iPhone SE refresh is unlikely in the first half of this year, so fans of Apple's lower-priced smartphone shouldn't set their hopes too high about a second-generation model yet. The original iPhone SE, which starts at $399, was introduced in March 2016.

Even without a full refresh, one possible scenario is that Apple could begin selling the iPhone SE in 32GB and 128GB capacities, doubling the storage space of the current 16GB and 64GB models, going forward.