Apple (AAPL) Is Now Toxic And Rising Competition Is Being Overlooked - CLSA

CLSA analyst, Nicolas Baratte, now sees shares of Apple (NASDAQ: AAPL) as "Toxic" after the company revised down Dec-Q sales from US$89-US$93 to US$84 (-5% YoY). Additionally, the analyst thinks rising competition played a bigger role than the company is letting on.

The analyst stated "While Tim Cook blamed a slowing China economy and trade tension, we maintain that in our opinion the iPhone ASP is the biggest problem given uninspiring specs and rising competition in China and in Europe. q In particular, we think the Huawei P and Mate are a problem for Apple given similar hardware specs at 2/3rd or half the price".

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $144.90 yesterday.

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