(San Francisco)

The headline looks a little bearish, granted, but it honestly may be true. The stars seem to be aligning for some big price losses in Apple’ stock. The company is set to unveil the iPhone 11 today, and it is hard to remember a time when there has been less excitement. For many reasons, including this being Apple’s last 4G phone, this model year looks to be a dud, and customer demand for it looks commensurately weak. Accordingly, the replacement cycle is likely to be poor. However, market expectations don’t seem to reflect all this, which means the stock is set up for big disappointment. Even Wall Street equity research divisions are now significantly lowering price targets for the stock.

FINSUM: The smartphone market is growing increasingly commoditized and dull and it is affecting Apple too. The company has done an admirable job diversifying, but 2020 is looking bleak for Apple.