“The iPhone might be becoming useful but boring, just like every other device you own,” Emily Bary reports for Barron’s. “Consumers seem less likely to upgrade to the latest iPhone models than they were in the past. Their old phones hold up fine for longer than they used to, and new features are cool but nothing special. Plus, when it comes time for an upgrade, iPhones users are increasingly opting for the prior year’s model, since it’s $100 cheaper than the latest version. This is known as ‘mixing down.'”
“‘The smartphone could be going the way of the other mature consumer electronics devices, whereby the devices are replaced only when broken or incompatible with a large swath of user applications,’ wrote Barclays analyst Mark Moskowitz in a research note Tuesday,” Bary reports. “Moskowitz downgraded Apple shares to ‘equal weight’ in the report, meaning that he thinks investors should hold onto their Apple shares but not buy more. He set a price target of $117, 2.5% below Apple’s recent $120.”
“While Apple’s 10th anniversary edition of the iPhone will generate excitement when it comes out later this year, Moskowitz is concerned that Apple may try to introduce too many different models, confusing customers,” Bary reports. “Plus, in recent years, the new iPhones haven’t been much different than their predecessors, and it’s unclear whether the upcoming version will contain real ‘must have’ features.”
Read more in the full article here.
MacDailyNews Take: Blah, blah, blah, blah, blah. Moskowitz is peddling pure tripe.
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