Thursday’s Apple Roundup: iPhone 8 Early Talk, Barclays No Longer A Big Fan
Apple’s (NASDAQ: AAPL) has been selling its new iPhone 7 and iPhone 7 Plus for just a few short weeks but this isn’t stopping investors and Apple’s enthusiastic customers from looking forward to the iPhone 8.
According to a Business Insider report, production of the iPhone 8 is well underway and Apple has tapped its office in Israel with developing hardware.
Details of the iPhone 8 are scarce and there will be plenty of time from now until launch date for rumors to present themselves. The employee suggested that the around 800 employees in the country work exclusively on “new products” for Apple.
Apple has acquired several startups in the country, including Anobit, a flash memory designer, PrimeSense, a 3D sensor developer and Linx, a camera firm. Some of these technologies have already been incorporated into iPhone and other Apple products but given the secretive nature of the company, investors can reasonably assume more is to come.
Apple’s offices in Israel also happens to be the company’s second largest R&D facility in the whole world.
The Business Insider report suggested that the iPhone 8 won’t be launched until 2018 which would be consistent with the company’s pattern of waiting two years in between notable upgrades.
Barclays No Longer Uber-Bullish
Apple’s stock took a bit of a tumble on Thursday after analysts at Barclays removed the name from its “Top Pick” list.
The analysts, led by Mark Moskowitz, have concerns that iPhone 7 sales will drop in the coming months in a similar fashion to what was seen with the iPhone 6S a year ago.
“While we maintain a constructive view on the long-term Apple franchise value and think next year ushers in IP8 with revolutionary advancements, the stock could be overbought given how fundamentals may not be as strong,” CNBC quoted the analyst as saying in his research note. “”Our research indicates a recovery in global smartphone growth could be pushed out. Plus, conversations with industry participants suggest iPhone sales trends could be at risk of petering out in coming months, similar to last year’s post-IP6S launch fall-out.”