Apple Analysts Grow More Bearish on Rising Samsung Threat: Tech
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A band of Apple Inc.’s most bullish fans on Wall Street are growing increasingly bearish over concerns that holiday iPhone sales have been weak and that the company needs new breakthrough products to fend off rivals Google Inc. and Samsung Electronics Co.
At least five analysts have cut their price targets for Apple since Dec. 16, with some saying Apple’s purchases from suppliers indicate iPhone and iPad sales may not meet projections. Because the two products are Apple’s largest sources of revenue and profit, any slowdown in demand would bode ill for growth prospects.