2019 iPhone Unlikely to Stop Apple’s Decline
While Apple CEO Tim Cook says the company’s ecosystem has never been stronger, and this ensures long-term stability, analysts are more reluctant when it comes to how the firm will perform in the coming years.
HSBC analysts have recently revised their revenue estimates for 2019 through 2021, lowering their original forecast by up to 7 percent. They also adjusted the estimates of Apple’s net income by 8 to 9 percent, setting the target price for Apple stock at $160 a share.
“Although we had expected challenges for Apple in China and other economies, the intensity has surprised us to the downside,” HSBC said in a note to clients this week, according to BI.