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| Apple stock slips after Barclays downgrade ahead of projected sales slowdown | Apple stock slips after Barclays downgrade ahead of projected sales slowdown |
| (35 minutes later) | |
| Shares of the iPhone maker dropped 0.5 percent to $119.41 in premarket trading following a downgrade by Barclays to 'equal-weight' from 'overweight' due to the absence of “meaningful upside potential” in the stock. | Shares of the iPhone maker dropped 0.5 percent to $119.41 in premarket trading following a downgrade by Barclays to 'equal-weight' from 'overweight' due to the absence of “meaningful upside potential” in the stock. |
| Barclays' analysts do not expect Apple to show stronger sales this year, saying investors are putting too much stock in the next iPhone expected in September. | Barclays' analysts do not expect Apple to show stronger sales this year, saying investors are putting too much stock in the next iPhone expected in September. |
| “Our chief concern is that investors increasingly are hoping for a meaningful exit rate (10 percent-plus year-over-year unit growth) led by the iPhone 8 cycle in the second half of 2017. Our view is that customers are increasingly mixing down (iPhone 6S in favor of iPhone 7) and maturation of the device-centric consumer electronics adoption wave could weigh on both Apple and the smartphone market,” Barclays analyst Mark Moskowitz wrote in a note distributed to clients, as quoted by Business Insider. | “Our chief concern is that investors increasingly are hoping for a meaningful exit rate (10 percent-plus year-over-year unit growth) led by the iPhone 8 cycle in the second half of 2017. Our view is that customers are increasingly mixing down (iPhone 6S in favor of iPhone 7) and maturation of the device-centric consumer electronics adoption wave could weigh on both Apple and the smartphone market,” Barclays analyst Mark Moskowitz wrote in a note distributed to clients, as quoted by Business Insider. |
| The London-based multinational still sees Apple as a good stock for long-term investors, saying that sales might return in 2018. | The London-based multinational still sees Apple as a good stock for long-term investors, saying that sales might return in 2018. |
| “Long-term growth opportunities related to India, services, the enterprise, artificial intelligence, and maybe even the Cloud still exist; however, we do not expect these potential 'what’s next?' opportunities to emerge as major needle movers over the next 12 months for Apple’s model,” Moskowitz wrote. | “Long-term growth opportunities related to India, services, the enterprise, artificial intelligence, and maybe even the Cloud still exist; however, we do not expect these potential 'what’s next?' opportunities to emerge as major needle movers over the next 12 months for Apple’s model,” Moskowitz wrote. |
| Barclays reduced the company’s 12-month share price target to $117 from $119. “This call is not on the quarter,” according to the note. | Barclays reduced the company’s 12-month share price target to $117 from $119. “This call is not on the quarter,” according to the note. |
| READ MORE: Apple biggest tax avoider in US stashing $215bn offshore | READ MORE: Apple biggest tax avoider in US stashing $215bn offshore |
| Apple's quarterly earnings report is scheduled for January 31. The corporation’s shares have risen two percent in the past three months and 18 percent in the past year. | Apple's quarterly earnings report is scheduled for January 31. The corporation’s shares have risen two percent in the past three months and 18 percent in the past year. |