Pessimistic Picture About Partner Apple from Goldman Sachs


Goldman Sachs, the US-based international investment bank, called for investors to sell Apple shares, saying that the iPhone 12 cannot be released until November due to the ongoing coronavirus outbreak.

Goldman Sachs, an international investment bank that cooperated with the US technology giant Apple for the Apple Card initiative, which was presented to users last year, drew a rather pessimistic picture about its partner.

In the third quarter of the launch of the iPhone 12 series, which is scheduled to be introduced this fall, the bank predicts that iPhone shipments will drop by 36 percent due to quarantines and travel bans around the world.

iPhone 12 may not be available until early November
Goldman Sachs notes that new iPhone models may not be available until early November, as travel restrictions can hinder Apple’s engineering and manufacturing process.

Although the bank does not expect a decrease in the loyalty of iPhone owners towards Apple, it points out that some users may prefer cheaper models such as the 2020 iPhone SE, which was released recently, due to this delay. Expecting Apple shares to drop by almost a fifth in the coming period, Goldman Sachs advises investors to sell their stocks.

Goldman Sachs expects Apple shares to drop by almost a fifth
As Goldman Sachs points out, there is a possibility that iPhone 12 will not be released in September. Although Foxconn, the world’s largest iPhone manufacturer, says it has returned to full capacity, Apple’s supplier network has suffered a significant deterioration in both economic and employment terms during the quarantine period in China.

Apple had asked its suppliers to produce around 80 million iPhones in the first half of this year. While 65 million of this number consists of the iPhone 11 series, 15 million consists of the affordable second generation iPhone SE model. What production capacity the Cupertino company is considering for the new generation flagship iPhone 12 is not known for now, but the current conditions may in any case disrupt Apple’s plans.


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