Wired
According to foreign media reports, JPMorgan Chase released an investment research report today that, due to the impact of the new coronavirus epidemic, sales of Apple ’s iPhone phones will fall 10% year-on-year this year.
JP Morgan analyst Samik Chatterjee said in the report that the new coronavirus epidemic has affected Apple’s ability to continue operating its retail stores. This year, iPhone sales will fall 10% year-on-year.
Chatterjee expects that Apple ’s retail stores in markets outside China will not reopen until mid-May. Moreover, even if the door is reopened, various businesses will be far below the normal level. Chatterjee believes that the increase in online sales during the closure of retail stores is unlikely to make up for the lack of physical stores.
To this end, Chatterjee lowered his expectations for iPhone sales in the second quarter, from the previous 33 million to 15 million. At the same time, Chatterjee also lowered his expectations for Apple’s profits.
Although Apple’s profit expectations and target stock price have been lowered, Chatterjee still believes that among the technology companies he studied, Apple is still in a good position and will perform relatively well.
In addition, Chatterjee also believes that of the four 5G iPhones originally planned for release this fall, two of them may be “moderately delayed by one to two months.”
Today, Chatterjee lowered Apple’s target stock price from $ 350 to $ 335 and continued to maintain its “overweight” rating.
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