Rosenblatt throws in the towel on AAPL coverage
The most bearish Apple analyst on the Street is parting ways with Rosenblatt Securities, and as a result the firm said it will be ceasing its coverage of the iPhone maker.
The most bearish Apple analyst on the Street is parting ways with Rosenblatt Securities, and as a result the firm said it will be ceasing its coverage of the iPhone maker.
Just four days before Apple's crucial holiday quarter earnings report, Rosenblatt Securities has dramatically hiked its target price for Apple stock — to $250.
Preorders for the iPhone XR are better than the equivalents for the iPhone XS and iPhone XS Max, according to Rosenblatt Securities' Jun Zhang, but that hasn't stopped the analyst from reducing expectations for the value-oriented iPhone release.
Rosenblatt Securities' Jun Zhang, who was perhaps the leading skeptic of the iPhone X and stuck with that bearish outlook even as it was clear the 2017 phone was a hit, weighs in again on iPhone XS and XS Max, with the same take.
Apple delivered record revenue in its holiday quarter, but went about it in a way different than investors expected, leaving analysts to rethink their so-called "super cycle" predictions for iPhone X unit sales growth. But with the average selling price of new iPhones soaring to unexpected highs, analysts remain bullish on the company's prospects in the months to come.
Contrary to supply chain speculation, production of the iPhone X remains right on schedule, according to investment firm Rosenblatt Securities, which also has seen evidence that sales are accelerating in China.
An analyst who is notoriously bearish on Apple stock is pushing a new claim that that metal casing issues in the fabrication process of the "iPhone 8" are causing a problem, and claims it could be the source of a possible delay in shipping the OLED device.
Apple's forecast for its next fiscal quarter was particularly strong, leading market watchers to believe that, in addition to the next-gen "iPhone 7s," the much anticipated "iPhone 8" could be on sale at the tail end of the September quarter in limited quantities, or at the very least in early October.
An analyst historically extremely critical of Apple believes that "iPhone 8" shipments, apparently constrained by late resolution of in-screen OLED Touch ID issues, will impact third quarter shipments for Apple, but won't have much impact on its marketshare, particularly in China.
An analyst with historically off-target guesses about Apple's hardware intentions and supply chain machinations is claiming that the "iPhone 8" will not only ship later than expected because of Touch ID supply problems, but also claims that full manufacturing won't fully ramp up until the first calendar quarter of 2018.
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