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Citigroup Downgraded Apple Earnings Report Expected United Kingdom Off Ou Cheng
Jul 06, 2016

Local time on Tuesday Citigroup downgraded the company's third quarter and quarterly expectations, said United Kingdom off European macroeconomic uncertainty is one reason. Citigroup in a research note to clients that "macro-economic conditions, as well as consumer demand for transfer or will result in the mobile phone market sales fell more than expected, which could have a negative impact on Apple results, and shares of the company may not be able to achieve the desired objectives. ”

United Kingdom exit makes the world more recently sharply lower. In addition, the Citi analysts also cited exchange rate fluctuations and the extension the replacement cycle for users of the iPhone and other negative factors, especially iPhone replacement period may be extended up to 30-36 months.

Apple shares fell on Tuesday, Apple shares fell more than 9% this year.