Apple Shares Took A Plunge & Downgraded

[RAMROD 116,998]

Apple shares were downgraded Wednesday by a Guggenheim Partners analyst who predicted a 5 percent decline in iPhone units sold in 2019. The firm also said rising prices would not be enough to offset that decline in sales.

Also on Wednesday, UBS cut its Apple iPhone sales estimates and stock price target, citing supplier warnings and overseas sales pressures because of the rising dollar.

The stock, which is down 13 percent this month, fell almost 2 percent Wednesday.

Guggenheim’s Robert Cihra cut Apple to neutral from buy and removed his prior $245 price target. “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,” the analyst added.

Apple shares dropped by 5 percent on Monday alone after one of its suppliers, Lumentum(LITE), said one of its largest customers reduced shipments. The company makes 3D sensing lasers used in Apple’s FaceID technology. That’s raised concerns iPhone sales are weakening.

Apple began the month by reporting iPhone shipments that missed Wall Street expectations for the quarter. The company also said it would no longer break out sales figures for iPhone units.

 

Source:

https://www.cnbc.com/2018/11/14/apple-gets-downgraded-more-iphone-estimates-cut.html

 

It begins, fam.   All these smartphones vendors that get even more crazier with their prices and forgetting their core market might end up like Nokia back then.

[DontDoubtDavid 1,196]

Omg, I have shares... I've been watching them decline, its frustrating.

[gag 22,449]

When your flagship phone is $1000 the clown comes back to bite

[River 127,318]

Well.. the new iphones are very expensive for no actual reason.. I'm thinking about getting the 8 64gb and that's it.. it's a last year iphone anyway..

[mr.peter 3,562]

My iPhone 8 plus works fine I have no reason to update 

[JGD 12,098]

Hopefully this will be a wake up call for Apple to actually innovate and fairly price their phones  I’m still going to buy their products though 

[ItWasntLaauv 6,392]

Listen, I love Apple products, but the only product I can afford (barely) is the iPhone, I have an iPhone 8, works great. I used to have a MacBook back in the day, but literally, it’s just not worth to get a new one because the past couple years they’ve raised their prices even more than before, it’s just not worth to be nickel and dimed like that for the product you get imo 

[Reginald 13,841]

Apple has been greedy af for decades for no good reason 

 

[Emvee 8,825]

The updates are getting smaller and more trivial while the phones are getting more expensive. Yeah, obviously consumers caught on...  

[Vitleysingur 13,790]

Isaac Newton predicted it.

[OracleMonster 1,735]

I would take this with a grain of salt. They’re a trillion dollar company - they know what they’re doing. 

[KleinGa 18,177]

Whale, that's what you get when you literally change the sizes of your phones and add letters to their names and then market it as brand new and expect the world to go crazy and buy