As the world’s largest publicly traded company, Apple (NASDAQ:AAPL) merits an opinion from almost every market participant on its path forward. The iPhone 6 is available in Space Gray. Now, we will witness how well the iPhone 6s will do, and if Apple will set another record this year.
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But there are a few indications that demand for the iPhone may be waning. Last quarter, the average price customers spent on the iPhone was $670, $67 up from previous year.
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The company sold 48 million iPhones last quarter, which was 22% more than it sold during the same period a year ago.
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This year, for the first time ever, the net number of new smartphone customers will go into decline.
If you’ve been waiting for a low, low price on a new iPhone, your moment has arrived.
Analysts at Credit Suisse, Morgan Stanley and Stifel all reduced their estimates for Apple’s iPhone sales.
The same deal is in place for the 16GB iPhone 6 as well. More broadly, though, Apple’s stock has been beaten down as a result of increasing bearish sentiment.
Meanwhile, Apple is running out of tricks up its sleeve to keep iPhone sales momentum strong. That’s not necessarily a problem if you don’t download too many apps, and take advantage of cloud storage, but it’s not great for iPhone 6s features like Live Photos which take up around 2x the space of a regular still photo.
That fact explains why Apple CEO Tim Cook has become obsessed with “Android switchers” – people who already own smartphones but change them for iPhones – on his recent earnings calls.
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On the whole, Wall Street analysts still agree with Cook. If Apple is able to outperform, long-term investors could be rewarded by buying a high-performing stock at a discount.
