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Bloomberg's Ovide: Apple Will Be Great Again -- Just Not This Year

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Bloomberg's Ovide: Apple Will Be Great Again -- Just Not This Year

Make Apple Inc. (NASDAQ: AAPL) great again? According to Bloomberg Gadfly's Shira Ovide, Apple will indeed be great — just not after Wednesday's "annual media circus."

According to Ovide, it has been an "awful" year for Apple by its own "high standards." With that said, she has an "uninspiring" message to the company's fanbase and shareholders wondering when the tide will turn.

"Wait until next year," she said.

Ovide expanded that Apple's new iPhone will merely be a "tweaked" version of the iPhone 6s and break its pattern of introducing a new "numbered" phone every two years.

Related Link: Global Wearable Markets Jump 26.1% In Q2; Fitbit Retains Lead While Apple Sinks

Meanwhile, Apple's revenue has declined for the past two quarters, a trend that will "probably" continue for at least the next six months. The last time Apple's sales fell for 12 months was way back in 2001.

Ovide continued that Apple's stock has dropped 26 percent from its all-time highs in February 2015.

Unfortunately for Apple's investors, a major sales rebound isn't likely until 2017 when Apple will introduce a "dramatically" new iPhone with a revolutionary thin screen that could "spark a new wave of iPhone sales."

"Wait until next year isn't a great rallying cry but it's the best Apple can do," she concluded.

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Latest Ratings for AAPL

DateFirmActionFromTo
Jun 2019Initiates Coverage OnOutperform
Jun 2019MaintainsBuy
May 2019MaintainsOverweight

View More Analyst Ratings for AAPL
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Posted-In: Bloomberg Gadfly iPhone 7 Shira OvideAnalyst Color Analyst Ratings Tech Media Best of Benzinga

 

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