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Analysts forecast Apple shares to drop by 25% in 2019

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Apple's shares are likely to experience a rather disappointing 2019, as the technology sector is experiencing one of its toughest moments in a decade.

This year was hard for technology stocks after a series of scandals over security and leakage of consumer data, falling chip prices and electronic components and shrinking sales of smart phones. China's slowdown in the Chinese economy and the widening trade war between Beijing and Washington directly sent Apple and their Chinese production centers directly to the "firing line".

Pelham Smithers of Pelham Smithers Associates notes: "With Qualcomm's lawsuits, poor sales of smartphones and worries about global trade, we can expect the Apple decline to continue within 25%."

He also adds that stock depreciation will reveal the rare opportunity for purchases later in 2019, even in 2020. This may happen when the company announces plans to implement the 5G network for its products. The introduction of the 5G will be the biggest test for the company. The 5G network predicts to revolutionize the internet by allowing for faster connection speeds, which will reduce communication time between two devices. Of course, Apple will first have to present its hardware and then present what functionalities could be implemented. So as we progress to the 5G era, it will be important to see what the efficiency of the devices themselves will be, which will predict key consumer attitudes and whether demand will be high.

Given this bizarre perspective, analysts watching the technology giant remain with a predominantly bearish mood. According to Reuters, Apple has a strong buy rating of 13, 10 analysts, 20 for hold, and sell or strong sell ratings are nil. Strategies have expectations for an average share price in 2019 of $ 215 per share.

Source: CNBC


 Trader Martin Nikolov

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