India News Junction

‘Lacklustre’ iPhone 16 is predicted by Barclays, and Apple loses $100 billion in market capitalization

<p>Tuesday saw the largest drop in Apple shares in four months as the company’s shares were downgraded by Barclays to “underweight” and its price target was lowered by $1 (approximately Rs. 83). The downgrade was due to concerns about the company’s alleged iPhone 16 and upcoming Mac computers, as well as a crackdown in China on devices made by outside companies. This year, the manufacturer of iPhones is expected to release a number of new products, including new iPad models.</p>
<p><img decoding=”async” class=”alignnone wp-image-336733″ src=”×422.jpg” alt=” lacklustre iphone 16 is predicted by barclays and apple loses 100 billion in marke” width=”798″ height=”449″ title=”'Lacklustre' iPhone 16 is predicted by Barclays, and Apple loses $100 billion in market capitalization 6″ srcset=”×422.jpg 750w,×576.jpg 1024w,×432.jpg 768w,×220.jpg 390w,×84.jpg 150w, 1200w” sizes=”(max-width: 798px) 100vw, 798px” /></p>
<p>According to Reuters, Barclays lowered its price estimate for Apple’s shares from $161 (about Rs. 13,400) to $160 (nearly Rs. 13,300), downgrading it from “neutral” to “underweight”. Following the brokerage’s negative prognosis on the stock, Apple’s market worth was wiped by over $100 billion (approximately Rs. 8,33,210 crore). On Tuesday, the company’s shares finished at a seven-month low of $185.64 (about Rs. 15,500).</p>
<p>The company’s difficulties in areas like China, where there is a government crackdown and Huawei is making a comeback, as well as the lackluster demand for the company’s most recent iPhone models, were highlighted by Barclays analyst Tim Long. In a client note seen by Reuters, Long said, “We think the iPhone 16 should be the same. The iPhone 15 has been lacklustre.”</p>
<p>With hardware upgrades over previous models, including a USB Type-C port required by EU regulations and a 3nm A17 Pro chip along with an Action button that replaced the mute switch on the more expensive models housed in a new titanium body, Apple unveiled the iPhone 15 series of smartphones last year.</p>
<p>According to a recent prediction made by Mark Gurman of Bloomberg, the company’s iPhone 16 models would include a separate “capture” button that will allow users to swiftly open the camera app and take movies. Gurman claims that the next iPhone 15 Pro and iPhone 15 Pro Max models would also have bigger screens. The most recent versions have 6.1-inch and 6.7-inch Super Retina XDR OLED displays, respectively.</p>
<p>According to Gurman, Apple is also developing a number of artificial intelligence (AI) capabilities for its iOS 18 operating system. The corporation anticipates that these software enhancements will aid in the sales of the rumored iPhone 16 series, which does not have significant physical improvements. The writer said that the iOS 18 update will need to be “extra impressive” in order to persuade customers to switch to this year’s models, since the company’s next phones aren’t anticipated to feature significant hardware changes.</p>
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