Apple Plans "Giant" High-End, Lower-Priced iPhones This Fall; Stock Shrugs

So much for the iPhone X? Following reports from Rosenblatt Securities that Q2 will be "very weak," Bloomberg reports Apple plans to boost sales with three new phones - a big one, a cheap one, and one the same size (but better). The stock dipped on the news.

Despite months of breathless hype, the iPhone X hasn’t sold as well as expected since its debut last year. Apple sold 77.3 million iPhones in the final quarter of 2017, below analysts’ projections of 80.2 million units. Some consumers were turned off by the iPhone X’s $1,000 price despite liking the design even if they wanted something more cutting-edge than the cheaper iPhone 8. With its next lineup, Apple is seeking to rekindle sales by offering a model for everyone.

Apple is preparing to release a trio of new smartphones later this year: the largest iPhone ever, an upgraded handset the same size as the current iPhone X and a less expensive model with some of the flagship phone’s key features.

Apple, which is already running production tests with suppliers, is expected to announce the new phones this fall. The plans could still change, say the people, who requested anonymity to discuss internal planning.

The reaction was... meh...

 

But Apple has been v-shaped-recovering after its tumble...

What would we do without buybacks?