Apple Inc. (NASDAQ:AAPL)’s latest iPhone models, the iPhone 6 and iPhone 6 Plus have been doing phenomenally well. It also showed promise in the personal computer sector with an increase of nearly a billion Macs sold compared to last year. Even the iPhone 5C, generally considered to be a low achiever, seemed to do better than estimated.
The only low point was the decline in the sales of iPad which had been noted in the previous quarters as well. With such promising numbers, it does look like Apple in on an upward trajectory. But some analysts predict that Apple could be the next BlackBerry Ltd (NASDAQ:BBRY). Colin Gillis, noted analyst from BGC Financial, expressed his views on the Apple – BlackBerry comparison on CNBC’s Earnings Alert.
With a price target of $98, Gillis was a hold on Apple Inc. (NASDAQ:AAPL). He said that though Apple is enjoying excellent sales right now, there is a chance for it to go the BlackBerry Ltd (NASDAQ:BBRY) way. Though BlackBerry is considered to be the originator of the smartphone device, it had been pushed to the back as it could not compete with better products brought out by newer companies.
“So far, the near term is fine but this is the iPhone company and the investing landscape is littered with smart phone companies that were successful at one time and did not keep up with the times,” he said.
Gillis expressed his concern over falling iPad sales and pointed out that if the iPhone sales were to catch the same trend, Apple Inc. (NASDAQ:AAPL) would be in hot water.
“If you have a long term view, you have to ask yourself if what we are seeing with the iPad with three consecutive quarters of declining sales, could this happen to the iPhone,” he explained.
He observed that, just like the BlackBerry Ltd (NASDAQ:BBRY), the iPhone was not invincible and its sales could go south any time in the future.
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