GS Forecasts Apple to Sell Fewer iPhones

Goldman Sachs underscored its lukewarm thesis on Apple and said it believes the company will ship fewer iPhones in late 2019 than the 67 million the rest of Wall Street expects.

Analyst Rod Hall reiterated his neutral rating Tuesday, telling clients that it’s increasingly likely that Apple falls short of unit sales and average selling price estimates later this year.

“We believe consensus is assuming a steep recovery in China, with little change in demand trajectory for other [geographies],” Hall told clients in a note. “We note that iPhone shipments in the U.S. and Japan cycled up in CY18

AEC v1.0.4
, with U.S. shipments growing 8% year over year in CY18.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza