Apple downgraded to 'sell' over slow iPhone sales, shares down

10 Juillet, 2019, 02:57 | Auteur: Auguste Feret
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"The current crop of "$1,000 phones" will continue to experience disappointing sales and according to Zhang, this is because the company has failed to generate as much excitement about the phones as they have done in years past.

The services business has been growing rapidly over the last 4-6 quarters, but it may not maintain the same pace of growth in the coming quarters, says Zhang.

The downgrade on Apple's stock saw the company suffer a 2.1% loss and the stock closed at $200.02.

A report a few days ago said Apple is making an iPhone with a Touch ID sensor built into the screen for China, without revealing when such a device would be launched.

"We believe Apple reduced iPhone XR production for Q3 in order to prepare for the ramp of the new iPhone models and because of weakness in sales in Q2", Zhang added.

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In January, Apple cut its revenue outlook for the first time in nearly two decades, in large part because of iPhone weakness. And as with all the leaks, we have come across renders and reports giving us a rough idea on what to expect from the new iPhones. Apple's quarterly revenue was down 5.1% on a year-over-year basis.

The lack of innovation at Apple has led to the company's stock falling and an analyst predicts that the stock may suffer more due to low revenue in the second half of the year. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Rosenblatt Securities said in its research note that "limited upgrade for the new iPhone models" means we won't see massive iPhone shipment growth this year.

Apple will launch three new iPhones this September: The direct successors to the iPhone XS, XS Max, and iPhone XR.

The upcoming iPhones would also facilitate bidirectional wireless charging, allowing users to charge compatible accessories and devices by placing them on the back of the iPhone 11. Local manufacturing seems to be the only way for Apple to make the iPhone more pocket-friendly in a country known for price sensitivity.

By 2020, 5G will have rolled out to a greater number of cities across the world, meaning Apple fans will be able to take full advantage of the upgrade rather than waiting for companies to further develop the technology as Android users must do. Out of the three iPhones, three are two are expected to feature three rear cameras, a first for iPhones.



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