Apple is not satisfied with the sales of the iPhone X

Apple iPhone 8

In the leadup to the iPhone X reveal a year ago, analysts were visibly salivating at the prospect of an iPhone upgrade "supercycle", a tidal wave of profitability that would sweep Apple stocks to never-before-seen heights and truly enthrone Apple as the king of all smartphone makers.

This is according to a report by Fast Company, which stated senior Apple executives have acknowledged the smartphone is not selling well.

The much-heralded iPhone X has been a fizzer, some analysts blame the $1,395 iPhone X for the down turn, with its full bleed screen and facial recognition, it was once viewed by investors as key to driving customers to upgrade their smartphones but the only thing it has done is drive customers onto the Android platform. For 2018, Kuo has predicted that Apple will release three new iPhones, a 5.8-inch OLED iPhone, a 6.1-inch LCD iPhone, and a 6.5-inch OLED iPhone. For Apple, the iPhone generates about two-thirds of sales, and the other third comes mostly from products and services best used with an iPhone. That would be the new iPhone X and iPhone X Plus. Now, Kuo is looking to share light on more than just Apple. At Friday's close, the shares were down by 10.7 per cent... It is expected that Apple will show just 2 percent growth in smartphone sales compared to a year ago during the first quarter.

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Morgan Stanley recently slashed its forecast for iPhone sales in the June quarter to 34 million, implying a 17 per cent year-on-year decline. Apple Music, iCloud, and the App Store have all been quietly increasing revenue, to the point that Wall Street is expecting $8.4 billion in services revenue, according to the Thomson Reuters consensus. In addition to this, Kuo also covered Apple as part of Concord Securities in 2011. Bernstein analyst Toni Sacconaghi said weakness in the current iPhone lineup was caused by a structural slowdown in the growth of new customers and the high pricing of the X model.

He cut his estimates for the second time in as many months, claiming that Apple investors are in the stock for capital returns from its US$200mln+ cash pile.

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