Apple Downgraded At OTR; Firm Sees Saturation And Lack Of Innovation

Shares of Apple, Inc. AAPL have decline 11.87 percent over the last six months, hitting a low of $103.12 on August 24.

• Analysts at OTR Global have downgraded the rating on the company to Mixed.
• The analysts believe that market saturation and lack of innovation have led to the iPhone 6S and 6S Plus launch order to be at or lower than the 2014 levels.

According to the OTR Global report, channel checks revealed that launch orders for the iPhone 6S and 6S Plus have been at or below the levels seen in 2014 for 35 out of 45 buyers. The analysts attributed this weakness to market saturation and lack of innovation at the company.

In addition, wholesale prices were higher in most markets, expect China, while the market share for large screen smartphones remained stable.