Previewed at WWDC, launching in the fall.
Apple's Stock Price Dips Ahead of WWDC as Analyst Issues Rare Downgrade
Apple shares are trading around 1 percent lower today, just ahead of WWDC 2017, after one analyst issued a rare downgrade of the stock."We are downgrading AAPL to Sector Weight and recommend investors reduce position sizes," said Andy Hargreaves, equity research analyst at Pacific Crest Securities, in a note to clients. "We believe AAPL anticipates strong performance in the iPhone 8 cycle, while providing relatively little weight to risks through the cycle or the potential for iPhone sales to decline in fiscal 2019."Wall Street remains largely upbeat about Apple's stock heading into the second half of this year, as investors anticipate the so-called "iPhone 8" to be a hit among customers, but Hargreaves believes the stock has limited upside, as he said hype surrounding the hotly-anticipated device appears to be "priced in."
Hargreaves anticipates the upside of the iPhone 8 to be offset by key risks, including the "potential for gross margin pressure, diminishing value of the mobile operating system, and the likelihood for declines in iPhone unit sales beyond the iPhone 8 cycle due to market saturation and elongating."
Hargreaves also believes iPhone sales will likely resume declining in 2019, as the iPhone 8 will result in above-average sales in 2018 that are unlikely to be matched once Apple returns to a normalized upgrade rate, similar to what happened after pent-up demand for the larger-screened iPhone 6 started to fade.
AAPL was trading at $153.85 at the time of publication, after opening at $154.34, but remains only slightly off its all-time high.
[ 44 comments ]
Top Rated Comments
(View all)
15 months ago
The dongles are here to stay - as Apple shoots itself!
Other than Intel updates (and may be AMD), nothing to see for the person who bought a computer in 2015!
You must have missed how important the changes are in macOS. Instant copy and duplication is going to impossible to live without.
iOS 11 on the iPad is a massive change and finally brings desktop level computing experience to the tablet.
15 months ago
Wow that iMac Pro. Guess Apple really cares about the Mac after all huh guys? I never doubted.
15 months ago
Shouldn't somebody here be bragging about how much money they've made on apple stock by now? :D
15 months ago
Numbnuts from Wall Street always try to manipulate the price or make some noise at some point.
15 months ago
I think unlike prior years people have some high expectations of seeing specific hardware announcements.
[ Read All Comments ]
In iOS 12, Apple has given users the tools to cut down on disturbances to get more time away from their devices if desired, and one of these new tools is an expanded set of Do Not Disturb options.
...
When Apple launched the iPhone X, a whole new set of gestures were introduced, changing the way that we were used to interacting with our iPhones.
One of these changes involved the App Switcher...
For this week's giveaway, we've teamed up with Choetech to offer MacRumors readers a chance to win an 18W USB-C Power Delivery Wall Charger.
This giveaway product is a little simpler...
The very first Apple Store opened its doors on May 19, 2001, at the Tysons Corner Center shopping mall in McLean, Virginia, near Washington D.C. Now, just over 17 years later, those doors may soon...
Uber this week announced a partnership with startup "Cargo," which aims to increase the wages of rideshare drivers by providing them with small containers filled with goods that riders can...
In iOS 12, Apple's digital health push includes a couple of special new features for iPhone and iPad users who want to cut down on their app usage: App Limits and Downtime. In this article,...
The latest proposed U.S. tariffs on $200 billion of Chinese goods name Apple Watch and other activity trackers assembled in China, according to government rulings. Reuters reports the latest...
WhatsApp says it is limiting the ability to forward messages to multiple chats at once in an attempt to reduce the spread of spam and misinformation.
The news follows WhatsApp's recent...
