BMO Capital Markets Grows Cautious on Apple

The transcript discusses Tim Long's downgrade of Apple shares to market perform, citing concerns about Apple's near-term numbers and potential long-term shifts. The discussion highlights challenges in maintaining high average selling prices for iPhones and the need for new growth drivers. Despite Apple's success in integrating new technologies, the market has stabilized, making it difficult to justify higher prices.

What is the significance of Tim Long's downgrade of Apple shares?

What concerns are analysts expressing about Apple's near-term numbers?

What potential challenges does Apple face in driving growth back into iPhone unit numbers?

How has the pricing strategy of Apple affected its iPhone sales?

What trends have been observed in the smartphone industry over the last few years?