Apple (NASDAQ:AAPL) closed 0.67 percent down at $502.68 on Thursday after a research report predicted long-term problems for the iPhone. Even a reiteration of a $1,111 price target from mega Apple bull Brian White was not enough to lift the stock out of the red. Here’s a cheat sheet to the main headlines on the day:
iPhone Trouble Ahead?
Apple’s share of the global smartphone market will grow to 22 percent this year, but will peak at that point and flatten through 2018, according to a projection from market researcher ABI Research. And rival Samsung (SSNLF.PK) will be there to fill in the growth holes, the report added. “Barring an unlikely collapse in Samsung’s business, even Apple will be chasing Samsung’s technology, software, and device leadership in 2013 through the foreseeable future,” ABI’s Michael Morgan said in a statement. Apple accounted for just under 15 percent of the global market in the third quarter of last year according to a recent report from IDC, up from 13.8 percent a year earlier… (Read more)
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