IPhone sales may fall 36% in the second quarter, Goldman Sachs reported


According to foreign media reports, Goldman Sachs today reported that Apple’s iPhone sales could plummet by more than a third in the second quarter of this year. To this end, Goldman Sachs downgraded Apple’s stock rating from “neutral” to “sell”.
Goldman Sachs analyst rod Hall said in a report that iPhone sales in the second quarter of this year will fall 36% year-on-year as economic development is hit by the new coronavirus epidemic. Next, market demand will gradually recover and is expected to decline by only 2% by the fourth quarter of this year.
Hall also noted that the average iPhone price will remain weak during the period. At the same time, hall lowered Apple’s target price from $250 to $233, the second lowest among analysts tracked by Bloomberg.
Today, apple no longer reports sales of its smartphones, but seven analysts surveyed by Bloomberg expect it to sell 28 million iPhones in the quarter to the end of June. According to the average expectation of three analysts, iPhone sales in the period will drop 27% year on year.
In contrast, CEO Tim Cook is optimistic about the company’s prospects after the outbreak, according to Apple employees who attended the online meeting on Thursday.
Apple plans to reopen its retail stores in South Korea for the first time since closing all 458 stores outside China in March. Apple will report its second quarter results on April 30 (as of the end of March). (Ya Ming)