Apple downgraded to ‘sell’ over slow iPhone sales, shares down

San Francisco: Apple shares fell nearly 1.5 per cent on Monday after research and investment banking brokerage firm Rosenblatt Securities downgraded the iPhone maker to “sell” from “neutral”.

According to CNBC, analyst Jun Zhang said in a note to clients that “we believe Apple will face fundamental deterioration over the next 6 to 12 months”.

“Adding to our ‘sell’ thesis, we believe new iPhone sales will be disappointing, iPad sales growth will slow in the second half of 2019, other product sales growth, such as the HomePod, AirPod, and iWatch, may