Apple Projected To Underperform Smartphone Market In 2016

Sales of the iPhone 6 are expected to slow throughout the remainder of this year, and Apple Inc. is forecast to underperform the overall smartphone market next year, according to Deutsche Bank analyst Sherri Scribner. The analyst raised her current-quarter iPhone estimates, but predicted that market share would moderate as the iPhone refresh enters its fourth quarter. Scribner also trimmed her Apple Watch estimates, saying demand appears to have stabilized. "Based on our checks, we believe iPhone will have another good quarter," she wrote in a note to clients, but said she remains concerned that Apple's current overall market share and share of the $400-plus phone market has peaked. Shares of Apple fell 0.9% to $125.31 in premarket trade. They are up 14.5% year-to-date, compared with a 0.5% decrease for the broader Dow Jones Industrial Average.