Goldman Sachs said investors would have to sell their stock to Apple before the pandemic really affected its bottom line as analysts downgraded iPhone maker to "sell" on Friday.
The investment bank, which manages $ 1,8 trillion in assets, said it expects iPhone shipments to slow by 36% in the third quarter of this year.
AAPL $ fell slightly with the opening of the market on Friday, a little more than 2% in pixel time
Shipments of new Apple products will shrink as consumers continue to have their old devices for longer with the threat of recession, he explains Goldman Sachs analysts through Reuters.
Existing users will also tend to opt for less expensive Apple devices if they buy a new smartphone, the company said.
As for the future smartphones: According to information, the analysts of Goldman Sachs do not believe that Apple will release a new iPhone by the beginning of November as soon as possible, since the company's production processes have been frozen due to global restrictions.
This article does not give any investment advice and you should do your own research if you are considering selling your stock.