Apple stock will drop because sales of its new iPhones later this year will fall below expectations, according to Nomura Instinet analyst Jeffrey Kvaal.
Nomura Instinet analyst Jeffrey Kvaal reaffirmed his Neutral rating for Apple shares on Thursday, predicting iPhone sales may disappoint during the quarter ending in December.
“We believe many investors are looking ahead to the 2020 5G iPhone launches,” he wrote. “[But] we caution that consensus [fiscal first quarter] iPhone estimates may be optimistic and that the shape of the 5G cycle remains uncertain.”
The analyst predicts the new iPhone releases this Fall won’t improve demand, because there aren’t significant improvements other than the camera
MacDailyNews Take: Apple remains an “uninspired investment” and investors should brace for disappointing iPhone sales and profit in two weeks, Nomura Instinet analyst Jeffrey Kvaal warned clients back in April 2018, ahead of Apple’s Q218 earnings report.
A mere two weeks later, on May 1, 2018, Apple reported the company’s best second quarter in history, with strong revenue growth in iPhone.
We can see your track record, Jeff, and it sucks.
• Nomura Instinet analyst Jeffrey Kvaal: Prepare for an Apple earnings miss — April 18, 2018
• Apple beats Street with best Q2 ever – May 1, 2018