This is one of those stories that makes me want to quit covering Apple. While many analysts are content reading tea leaves in the supply chain for signs heralding trouble for Apple, Barclay’s capital analyst Mark Moskowitz has a crystal ball that tells him that nobody’s going to like iPhone 7.
Investor’s Business Daily had the analyst issuing a note Wednesday indicating that Apple’s next-gen handset will be an incremental upgrade that won’t excite customers. In the note Moskowitz said, “Our research indicates iPhone 7 prototypes do not suggest any must-have form factor changes.”
Moskowitz also lowered his iPhone expectations for the recently ended March quarter and the currently underway June quarter. He dropped March expectations from 51.3 million units to 50.7 million. June he dropped from 49 million units to 46.3 million. With so much iPhone negativity, it’s no surprise he dropped his twelve-month price target on Apple shares. That he lowered from $142 to $131. That said, he did use the note to reiterate his overweight rating on the company’s stock.
I regretfully include the link to the source…