Amid talk of ‘peak iPhone’, Apple’s prospects hinge on next model

(Reuters) - Ask Siri as iPhone 7 answers to problems of Apple Inc's will, and tell you that a visit to the Apple question website "and more" If y...


Amid talk of 'peak iPhone', Apple's prospects hinge on next model

(Reuters) – Ask Siri as iPhone 7 answers to problems of Apple Inc’s will, and tell you that a visit to the Apple question website “and more”

If you have to answer. it was so easy.

Apple shares closed down 6.3 percent at $ 97.82 on Wednesday, wiping out about $ 36 billion in market value, a day after the company announced its first-ever drop in smartphone sales, aroused talk of “peak iPhone. ”

For many analysts, the company is the immediate future iPhone 7, Apple is expected to launch in September.

“If the iPhone 7 do not surprise with meaningful new useful features, we are concerned that not to upgrade the consumer,” Macquarie analyst Ben Schachter wrote in a note to clients.

“And unfortunately nothing we’ve seen on iPhone 7 so far, we find particularly innovative,” the Schachter, who cut his price target to $ 112 from $ 117, while maintaining its “correct” figure in the equity markets.

iPhone 7 is expected that a new look with sporty features such as waterproof, touch wireless headphones and strength as the home button.

But really wonder if it will be enough for the Android-based phones their existing iPhones to attract users to shower or link that can be entered to dominate the smartphone market.

Goldman Sachs remove Apple from its conviction list to results from Apple and said the company stocks expected to remain weak until the market becomes more comfortable with the outlook for the iPhone 7.

Goldman was among at least 16 brokers cut price forecasts on Apple’s stock, cut its target to $ 136 from $ 155, while keeping a “buy” rating.

of the 46 analysts covering the stock, 36 rate it “buy” or “strong buy” or the equivalent. The median price target is $ 121, according to Reuters data.

Apple usually releases new iPhones in September and selling the most units in the December quarter.

unit sales tend to decline in the coming quarters, up to launch the next iPhone.

Nearly erased $ 200 billion

Together with the weaker-than-expected iPhone sales, Apple announced its first decline in income in a decade. Sales in China, the company’s main market after the United States, 26 percent.

Apple has also forecast a disappointing quarter for sale.

The bad news overshadowed strong results from the company’s growing business services and an increase in the purchase of shares

If Wednesday’s close, nearly $ 200 billion was wiped off the value of the world’s most valuable listed company last year -. almost equal to the market cap of Wal-Mart Stores Inc., the world’s largest retailer. The stock last closed below $ 100 in February.

disappointing results from Apple until a recent pattern for technology companies. Microsoft Corp and Google Inc older alphabet came short of expectations.

Piper Jaffray’s Gene Munster said that while there is little ligpunte in Apple’s report he believed would restore the shares of Apple iPhone sales in 2016 as growth begins again in the fourth quarter.

But there was a greater demand for longer-term growth of the iPhone and other factors that can drive revenue, he said. “That question remains unanswered after Report March”.

(Reporting by Tenzin Pema and Supantha Mukherjee in Bangalore; Additional reporting by Subrat Patnaik; Editing by Ted Kerr and Robin Paxton)

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