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Apple’s iPhone X didn’t live up to the hype, and now investors want to know the fix

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Apple Inc. earnings this week will confirm what most investors have finally accepted: The iPhone X didn’t live up to the hype. The results should also provide clues on the company’s next strategy for its most-important product.

Chief Executive Officer Tim Cook and other Apple executives have a “major prove-me” period ahead, beginning with a new sales forecast and a conference call with analysts on Tuesday, GBH Insights analyst Daniel Ives said. He and other analysts cut their iPhone sales estimates, and Apple stock is down almost 8 per cent in the past two weeks.

The stock got a bit of a reprieve on Monday, with RBC analyst Amit Daryanani saying the “magnitude of investor negativity is likely overdone.” Apple shares rose as much as 3 per cent, the most since March 29, to US$167.26 in New York. Other analysts point out that Apple is planning to release a lower-priced model with iPhone X attributes that could rekindle sales.

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