Investing.com – Apple (NASDAQ 🙂 drops Wall Street 2% after Qualcomm (NASDAQ 🙂 explained in a statement that has won a pre-order a Chinese court banning the import and sale of several models of the American company.
The line that comes from the International People's Court in Fuzhou is not new to Apple, because in the early years it imposed a ban on Micron Chips Memory Battery (NASDAQ 🙂 Technology in China.
According to the judge responsible for issuing an order, Apple violated two of Qualcomm's software patents to resize photos and manage applications on a touchscreen.
In Qualcomm's statement, it is claimed "Apple continues to take advantage of our intellectual property, while refusing to compensate us. "
However, Apple may continue to sell phones. The line that left China's court states that the US company can make changes to its software avoid patents and keep selling your phones,
The specific models affected by China's prior decision are iPhone 6S, iPhone 6S Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X.
Citi is prepared by Apple
Bad news, they say, never come alone. Prior to Qualcomm's release of the text clarifying the court's decision, the technology company has already received a jar of cold water.
Citi analysts ceased to trust Apple and declined its target price of $ 200 per share for 240, which pre-encodes themFirst, they point out that "trade wars are bad for technological action".
Although they think Apple is not losing its sales orientation and that "China does not impose additional tariffs", we hope that "the consensus is closer to our diminished estimates in the coming weeks as the Asian side accounts for 18% of total sales."
Citi analysts also wonder how far the title may fall. Experts believe that they can sink to $ 125 if "income growth is reduced between 2% and 3% worldwide. "
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