Apple Tightens Its Belt as Analyst Cites a Decline in Services Growth
- Analyst sees slower App Store, Licensing, Apple Care growth
- Non-core projects said to be trimmed due to soft iPhone demand
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Distress for Apple Inc. continues to mount, and soft demand for new iPhones is only one of its troubles.
Apple will see the growth rate of its Services division decelerate come fiscal 2019, Macquarie analyst Benjamin Schachter said in a research note. The firm slashed Apple’s price target to $188 per share from $222 although it still rates the stock outperform.