Wednesday, January 17, 2018

Longbow downgrades Apple on lower iPhone forecast

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|About: Apple Inc. (AAPL)|By:, SA News Editor
Longbow Research downgrades Apple (NASDAQ:AAPL) from Buy to Neutral.
Analyst Shawn Harrison reduces FY18 iPhone unit shipment forecast to 233M (was: 248M) compared to the 239M consensus estimate.
”Apple found iPhone price elasticity with the introduction of the X blunting some demand. Reception of the iPhone 8/8Plus was lukewarm with Apple shifting production back toward the iPhone 7 as a result,” writes Harrison in a note to clients.
Apple shares are down 0.3% premarket.  

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