💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Pacific Crest downgrades Apple on weaker iPhone sales expectation

Published 06/05/2017, 07:52 AM
© Reuters.  Pacific Crest downgrades Apple on weaker iPhone sales expectation
AAPL
-
  • Pacific Crest downgrades Apple (NASDAQ:AAPL) from Overweight to Sector Weight citing the overly optimistic sales forecasts for this year's iPhone.
  • Pacific Crest sees investors expecting the 2017 iPhones to achieve a unit growth in the “mid-to-high teens” with a side of gross margin growth but says such increases are “extremely unlikely.” Notes that the iPhone 8 could face a soft launch and delays due to OLED supply issues.
  • Meanwhile, UBS cites “inconclusive” global smartphone survey results for Apple with positive signals including strong retention and Chinese rebound. Negative signals include weak purchase intentions outside the U.S. and some signs of brand erosion.
  • UBS predicts 80% retention rate with a 5% to 10% new user decline.
  • Source: Bloomberg
  • Apple shares are down 0.75% premarket.
  • Now read: Apple To Guide Revenue Growth Lower


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.