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UPDATE: Rosenblatt Maintains Sell on Apple, Raises Price Target to $250 As Firm Notes 3 Reasons Why:

1. iPhone ASPs potentially being lower than expectations due to the iPhone 11 cannibalizing the sales of the high-end and older iPhone models. iPhone 11 sales were strong, however, high-end model sales were

Benzinga · 01/24/2020 15:24

1. iPhone ASPs potentially being lower than expectations due to the iPhone 11 cannibalizing the sales of the high-end and older iPhone models. iPhone 11 sales were strong, however, high-end model sales were weak

2. Expectations for the 5G upgrade cycle in 2020 being too high. We believe the higher prices for 5G smartphones and 5G services will slow the upgrade cycle

3. New services, such as music, news, streaming, TV, being regional services compared to global services. We are waiting to see if there are 5G applications that will drive mobile platforms to generate more content or service revenue for smartphone OEMs