Apple downgraded by Rosenblatt to 'sell' on 'fundamental deterioration'

Apple downgraded by Rosenblatt to 'sell' on 'fundamental deterioration'

The core iPhone business continues to struggle, and Zhang goes as far as to call last year's iPhone XS "one of the worst selling iPhone models in the history of Apple".

There is no doubt that iPhone sales aren't growing as fast as they used to.

"We believe new iPhone sales will be disappointing, iPad sales growth will slow in the second half of 2019 [and] other product sales growth, such as the HomePod, AirPod and iWatch, may not be meaningful to support total revenue growth", Zhang wrote in a report Monday. The iPhones still account for more than 50% of Apple's revenue.

AAPL traded down $4.21 on Monday, hitting $200.02.

This shocking information comes by way of hugely popular YouTuber Filip Koroy (aka Everything Apple Pro) who has revealed the first pictures of the iPhone 11's new logic board and it forms the cornerstone of headline changes which shall be seen in iPhones for years to come back.

The September event will thus bring upgrades for all three 2018 models, namely the iPhone XS, iPhone XS Max, and iPhone XR. We downgrade and maintain our $150 price target.

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The iPhone 11 phones will launch in mid-September, almost six months before the Galaxy 11 and other 2020 Android devices can make use of the Snapdragon 865 processor. Instead, the second half of 2020 will witness strong iPhone upgrades due to the introduction of 5G iPhones and other innovative features.

Many of Apple's main Android rivals now feature this camera setup and it would make ideal sense for the iPhone to get a similar upgrade.

As noted by 9to5Mac, this new image could prove that Apple is completely redesigning the internal components to allow for a bigger battery and that triple rear camera system.

This next generation device looks set to be packed with updates and new features with the most exciting change nearly certainly the addition of a triple rear camera. The third ultra-wide angle lens will offer a wider zoom range and improve low-light photography. The iPhone maker reported $2.46 EPS for the quarter, topping the Zacks' consensus estimate of $2.37 by $0.09.

Apple, however, is a creature of a habit and if we base on this fact alone then we know for sure that an iPhone 11 is coming sometime this year. If users wanted to take advantage of fast charging, they were forced to separately buy a fast charger and a USB-C to Lightning cable.

At face value, the adjustment appears minor: Apple is transferring from the L-shaped logic board inside both the iPhone X and iPhone XS to a more compact, stacked rectangular design.

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