Posted on 11/19/2018 11:21:14 AM PST by Red Badger
New York (CNN Business)Stocks fell sharply Monday, dragged down by reports that Apple's newest line of phones may not be selling as well as Apple or its investors had hoped. The Dow fell more than 500 points and the Nasdaq tumbled 2.8%. Apple's stock fell once more after the Wall Street Journal reported that Apple has cut orders for its iPhone XR, iPhone XS and iPhone XS Max. The new iPhones, which Apple unveiled in September, cost more than previous versions. The $749 iPhone XR is the least expensive new iPhone, but it costs $50 more than last year's cheapest model, the iPhone 8.
The iPhone XS Max can cost up to $1,449. The higher prices -- without many more features -- could be driving customers to keep their current phones longer or buy last year's models. Apple declined to comment about the Journal story or broader concerns about iPhone demand. Shares of Apple fell 4% and have now plunged about 20% from the all-time high it hit a few months ago, when Apple (AAPL) was worth more than $1 trillion. The stock ended a 5-day losing skid on Friday after an analyst at Morgan Stanley suggested that the supplier concerns are overdone. Apple, which is a member of the Dow, was hurting the blue chips too. Several makers of chips and other components used in iPhones have warned of soft sales and profit in recent weeks, citing sluggish demand for higher-end smartphones. To that end, shares of Apple suppliers, such as Qorvo (QRVO), Broadcom (AVGO), Cirrus Logic (CRUS) and even Apple's key Anrdoid phone rival Samsung were all lower Monday too. Samsung also makes chips for iPhones.
(Excerpt) Read more at cnn.com ...
In before the Swordmaker spin
Because these iPhones are OVERPRICED..800 bucks for a PHONE..lower the price and I think sales would improve
“This is total FUD”!
A huge problem is that we’re finally seeing very nice, reasonably priced Android phones like the Motorola/Lenovo Moto X4 and the Nokia 7.1. Just that is starting to cut into iPhone sales.
FANGs go bye bye!
Why does anyone with a recent version of an iPhone need a new one?
Hate to say it but since Jobs died, not one new improvement has wowed me. Sure, there have been improvements. Camera is great. But nothing is amazing. Why would anyone but techies who feel the need to buy the “latest” upgrade?
Been investing for years and best description for stock market prices are stairs up, elevator down.
the little phones cost too damned much for many people to buy them
and they should not cost as much, imho, given the cheap Communist Chinese labor
one bad thing is that so many mutual funds and etf’s are loaded up with apple stock... so any big drop in apple stock will hurt millions of people
but this is the name of the game, so be it I guess
A sucker is born every minute........
Ive seen people do that..every year they upgrade their phone to the newest one..why, I have NO idea..these are the same people who scream that they need free health care because they can’t afford it
My Moto G is TOO smart for me.
Moto phones are awesome and very easy to use. Flick the wrist - the camera turns on. Chop the phone - the flashlight turns on.
Once the cameras get over 10Mp, any improvement is just not worth it. I mean, how many megapixels do you need to take pics of yourself?.............
I thought about adding a second camera lens so that you could take 3-D stereo-optical pics like Viewmasters..................
This is why they’re charging stratospheric prices. The market is saturated, so they need to make up the difference from the “gotta have it” crowd.
Well the Iphone 11 has a 27 megapixel camera while the Iphone 10’s camera is only 26 megapixel, The Iphone 11 comes in 7 different colors to the Iphone’s 5.
So big difference, worth spending $800 just to have the newest thing.
One thing that has been on my mind about all this stuff: Smart phones offered a ton of REAL and SIGNIFICANT benefits with more being offered all the time. But they are in a bit of a lull now. Sure, the new model is “better”, but better enough to replace the old one? If cell phones become like cars, where people just keep using the same one until it wears out, we could see an interesting paradigm shift.
Also, as people become less enamored with the tech and they no longer make a statement about how tech savvy you are, the shine may wear off as well.
That is, as more and more people see them as simply a commodity - like their toaster, there will be less incentive to toss a perfectly good phone for the “Next Big Thing”.
Costco had a decent Android phone a few months ago that could be used on most plans. It also had a good camera. It was $175. I seriously thought it might be my next phone whenever mine dies. Heck, I used my Samsung Galaxy S for six years and three batteries.
My take as well. The parabolic rise in features is long gone.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.