News for Mobile China It seems that in the Chinese market, with the continued hot sales of high-end models from domestic manufacturers such as Huawei’s Mate60 series and Xiaomi’s 14 series, this year’s iPhone 15 series isn’t performing as strongly as in previous years. Furthermore, Mobile China recently noticed that Barclays Bank predicts that the iPhone 16 will not be able to reverse this trend.
Notably, Barclays Bank recently published a pessimistic prediction about Apple Inc. in a memo for investors. The bank predicts that the iPhone 16 series, set to launch in 2024, will be insufficient to counteract the global decline in demand for iPhones. Based on this perspective, Barclays Bank has decided to lower Apple’s target share price from $161 to $160.
In the memo, Barclays Bank clearly states that despite Apple facing multiple quarters of disappointing performance over the past year, the company’s share price has been impressive. However, the bank foresees a downturn in the performance of the iPhone. The bank holds a negative view on the sales and product mix of the upcoming iPhone 15 in particular. Most significantly, the bank does not think that any features or upgrades in the iPhone 16 series will be able to boost consumer interest in this new model substantially.
This forecast reflects market concerns about the future development of Apple. As one of the world’s most valuable tech companies, any movement in Apple is closely watched. However, with the global smartphone market becoming increasingly saturated and competitive, Apple is facing mounting pressure.