Apple: The ‘Mix Down’ in iPhone Pricing Continues, Warns Barclays
Source: blogs.barrons.com – Wednesday, February 15, 2017
Barclays analyst Mark Moskowitz today reiterates an Equal Weight rating on shares of Apple ( AAPL ), and a $123 price target, writing that the latest data on the smartphone market suggests the company is seeing more and more customers making purchases of lower-priced versions of the iPhone, leaving the company without the prospect of catalysts in the next 12 months. Moskowitz last month warned investors to be careful of a “mix down” among iPhone customers. Today, taking his cue from IDC data two weeks ago , Moskowitz writes that “data continues to indicate that a growing number of smartphone users are mixing down and purchasing lower-priced (sub-$500) iPhone models."
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