Apple enters disastrous period, still looking to poach Android users
Apple investors are in for tough times as expectations continue to dim for the company's shares. Nonetheless, regardless of the concerns over its stock performance, the Cupertino giant seems more intent on poaching Android users as the company strengthens its market position.
Apple shares dived down under US$100 (AU$143.40) this week after seemingly slowing iPhone orders worried investors. Apple stocks are also down over 27 percent compared to its all-time high last April 2015, according to CNBC. However, despite the possible opportunities in sell-off and more shares, analysts think that the company will be poised for tougher times.
"Apple is in a potentially disastrous situation and it needs to be drawn attention to," explained Todd Gordon via CNBC's Trading Nation.
"We are on the verge of a technical breakdown," added Gordon on long-term chart and long-term uptrend.
"If we push through the US$96 (AU$137.66) level in Apple, that's a big problem." Should Apple's uptrend line be broken, then the market can expect stock to dip as low as US$81 (AU$116.15).
Wall Street even has a far more bullish forecast than Gordon. The latter resorted to a measured move to come up with the target.
"We're going to take the distance of the all-time high that we saw in Apple early last year down to the August lows and then project it down from the reactionary high that we saw toward the end of 2015."
On the other end of the spectrum, Apple is working on driving more users to its platform which can put the company in a good negotiating position if it succeeds. The Telegraph cited a senior industry source confirming that Apple has agreed to create a simple tool to transfer data from their Android device to Apple. European telecoms expressed concern previously that only a few users move because of the difficulty in transferring data. Should Apple be able to create the tool successfully, then experts think that the tech giant will see and usher in a significant shift.