Apple downgraded as analysts predict iPhone sales will decline into next year, amid rumors of production cuts and weak demand for new devices
A raft of profit warnings from Apple's suppliers has fueled investor concerns that iPhone sales, in terms of volume, have hit a wall.
Guggenheim Partners analyst Robert Cihra downgraded Apple shares, and predicted iPhone sales will drop by 5 percent in 2019.
‘Unlike last year [we] do not see ASP (average selling price) increases providing enough offset, with our forecast that blended iPhone ASPs increase only +3%Y/Y, leaving iPhone revenues -2%Y/Y,’ Cihra wrote, according to CNBC.
‘Moreover, we see growing risk of even softer iPhone unit demand, with downside in China, India and other emerging markets, where Apple may need to start considering lower price points.’
Published on 14 Nov 2018 at 11:10PM