“Just hours before Apple is set to report quarterly earnings, one top Internet analyst said the tech company’s best days are behind it,” Anita Balakrishnan reports for CNBC.
“‘The fear is that Apple is entering growth purgatory,’ senior analyst Toni Sacconaghi of Sanford C. Bernstein said Tuesday on CNBC’s Halftime Report. ‘It had the great last cycle with the iPhone 6. The fear is smartphones are in an increasingly mature marketplace, particularly at the high end. That’s almost all of Apple’s earnings and growth,’ Balakrishnan reports. “Shares of Apple dipped below Monday’s close just past noon Tuesday, after Sacconaghi compared its single-digit growth projections to the double-digit expectations for competitors Amazon and Alphabet.”
“‘You’d have to believe that the car would kick in, and drive revenues,’ Sacconaghi said. ‘Or that the watch would ultimately be something very big. But I think investors are worried about the next two-year period. Can there really be iPhone growth?'” Balakrishnan reports. “The comments are an about-face for Sacconaghi, who just two months ago told CNBC he believed iPhone sales could continue to grow in China and gain market share. Though he still believes the company will be a “moderate grower,” Sacconaghi told CNBC that Wall Street has already factored Apple’s decline into its math. ‘I think its best days are behind it,’ Sacconaghi said. ‘The Street is discounting that Apple’s free cash flow will decline in perpetuity.'”
Read more in the full article here.
MacDailyNews Take: iCal’ed.
Reminder’ed, noted, notarized, filed and collated for copious future use.
SEE ALSO:
Apple surpasses goal of 10 million iPhones sold in 2008; outsells RIM in September quarter – October 21, 2008
Analyst who couldn’t find ‘missing’ iPhones thinks Apple won’t hit 10m in 2008 goal – February 22, 2008
Where are those million Apple iPhones? All over the world – January 29, 2008
So-called ‘analyst’ finds his ‘missing’ iPhones – January 28, 2008
There are no ‘missing’ Apple iPhones – January 25, 2008
FUD Alert: CNET article based on lone analyst’s view tries to gin up iPhone demand issue – January 25, 2008
[Thanks to MacDailyNews Readers “Fred Mertz,” “Bill,” and “Sarah” for the heads up.]
