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Apple Downgraded to ‘Sell’ Over Slow iPhone Sales, Shares Down

The new iPhone, likely to be launched in September, is expected to house a triple-camera system and a new chipset

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Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

Apple shares fell nearly 1.5 per cent on Monday after research and investment banking brokerage firm Rosenblatt Securities downgraded the iPhone maker to “sell” from “neutral”.

According to CNBC, analyst Jun Zhang said in a note to clients that “we believe Apple will face fundamental deterioration over the next 6 to 12 months”.

“Adding to our ‘sell’ thesis, we believe new iPhone sales will be disappointing, iPad sales growth will slow in the second half of 2019, other product sales growth, such as the HomePod, AirPod, and iWatch, may not be meaningful to support total revenue growth,” said the analyst.

The Cupertino-based giant would, however, maintain its $150 price target, said the analyst.

Apple’s shares were down to $200.90 in early trading.

Smartphones
iPhones on display at an Apple store in Virginia, USA, April 4, 2016. VOA

According to Business Insider, Apple received a downgrade from Rosenblatt Securities owing to slow iPhone sales in June and expected production cuts for the XR model.

“We believe Apple reduced iPhone XR production for Q3 in order to prepare for the ramp of the new iPhone models and because of weakness in sales in Q2,” Zhang added.

The company has made a new push towards generating revenues from launching services such as Apple TV+, Apple News and Apple Music.

Also Read: Tech Giant Google Suspends Shady Samsung Update App

The new iPhone, likely to be launched in September, is expected to house a triple-camera system and a new chipset.

“With limited upgrades for the new iPhone models in the fall and expectations of a 5G iPhone in 2020, we expect major iPhone upgrades to be pushed out to the second half of 2020,” said Zhang, adding that iPhone XS may have been “one of the worst selling iPhone models in the history of Apple”. (IANS)

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Apple Brings iOS 13.2.3 Fixing Variety of Weird Bugs

Apart from fixing the background app issue, the fix also handles issues where iPhone could temporarily lose mobile signal after a call and another "where mobile data may temporarily not be available"

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Apple, smartphone
Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

Apple has released iOS 13.2.3, which fixes a variety of weird bugs in iPhone’s Mail, Photos and Files apps and more.

The latest update includes a fix for the Spotlight system search feature that had been failing for some users recently.

The iPhone maker on its support page said that the this iOS update also fixes an issue that could prevent apps from downloading content in the background.

In terms of the update size, iOS 13.2.3 is around 90MB in size, however, the actual size may vary with the device.

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iPhones are on display at an Apple store in Prince William Country, Virginia. (Photo: Diaa Bekheet) VOA

This new incremental update comes on the heels of iOS 13.2.2 which addressed issues with apps running in the background and more.

Also Read: Wipro Planning to Develop 5G Technology with Finnish Varsity: Report

Users can be download iOS 13.2.3 by navigating to ‘Settings,’ then ‘Genera,’ ‘About,’ and finally ‘Software Update.’

Apart from fixing the background app issue, the fix also handles issues where iPhone could temporarily lose mobile signal after a call and another “where mobile data may temporarily not be available”. (IANS)