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Apple downgraded by HSBC to sell rating on concern about new services: ‘Too late to the game’

Wednesday April 10, 2019. 05:27 PM , from Mac Daily News
“Apple shares were downgraded to ‘reduce’ by HSBC on concern its pivot into services will have lower margins and the new offerings including its streaming TV product will fall short of expectations,” John Melloy reports for CNBC.
Recent announcements on services has Apple putting money where its mouth is but returns could take some time to extract. While the new offerings may garner consumer attention, we do not expect these services to move the needle significantly. We believe Apple has come too late to the game and its offering, by and large do not differ much or are below par to offerings from competition. — HSBC analyst Erwan Rambourg in an April 10, 2019 note to clients
Melloy reports, “The analyst also noted that the services business is likely to be less successful at gaining and keeping customers in emerging markets than it is in the U.S.”
Read more in the full article here.
MacDailyNews Take: Mountains of money in the hands of experienced professionals can quickly cure a lot of confused floundering and lateness. Watch and see.
Beware any so-called analyst who claims to have “concerns” about a service for which the price has not even yet been announced!
Rambourg’s comments have been iCal’ed for future use.
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