Analysts Doubt Apple’s iPhone Sales Comeback


It seems Apple will not get a break in the less-than-cheery news cycle it’s been operating on as of late, as analysts refuse to budge on their dismal outlook for the tech giant.

As Bloomberg reported earlier this week, analysts at Canaccord Genuity Inc. are predicting that Apple will not get a boost in sales this quarter.

“Based on our survey work, we believe consumers continue to delay purchases of new iPhones ahead of the iPhone 7 launch likely in September,” the team, led by T. Michael Walkley, said in a research note. The analysts actually believe that “iPhone sales in the U.S. market will fall below 50 percent of total smartphone sales during the June quarter for the first time since the larger-screen iPhone 6 products launched.”

Far from that being an outlying opinion, other firms on Wall Street are echoing the cautious outlook on Apple’s sales. As Bloomberg noted, Barclays PLC is skeptical whether the iPhone 7 will be able to turn things around at all.

“Our research indicates [iPhone 7] prototypes do not suggest any must-have form factor changes,” the analysts, led by Mark Moskowitz, noted to Bloomberg. “In such a case, IP7 could be more of a replacement cycle versus a megacycle (i.e., [iPhone 6]).”

Analysts from Deutsche Bank AG added their own two cents: “Our concerns about slowing smartphone market growth and elongating refresh cycles were reinforced by iPhone units [sales], which declined 16 percent year over year in the quarter.”

Despite a recent sizable investment from Berkshire Hathaway, Apple continues to struggle to regain footing around its iPhone products.