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Wendy Boyd

Apple's New iPhone Cycle A Case Of 'Short-Term Pain For Long-Term Gain'?

Apple Inc. AAPL investors haven’t known quite what to make of reports that iPhone 8 demand has fallen short of expectations. Low demand would typically be bad news for Apple. But in this case, it could simply be a sign that Apple customers are holding out for the iPhone X.

As a result of this phenomenon, Bank of America has lowered its expectations for Apple when it reports earnings Thursday. Analyst Wamsi Mohan said on Tuesday that Apple will likely report lower-than-expected iPhone average sales prices for the third quarter, but the iPhone X could make up for the short-term weakness in 2018. Source

The upside seems to be over. Stochastics are entering overbought zone.