HSBC is worried about Apple’s future

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iPhone X-R-llent.
HSBC has previously said iPhone's days of massive growth are over.
Photo: Apple

Apple stock seems to have stabilized after its steep decline in recent weeks, but HSBC analysts seemingly don’t think the worst is over just yet.

Having previously said that meaningful iPhone growth is “broadly over,” analysts for the bank have now lowered their Apple price target for a second time.

HSBC analyst says iPhone growth is ‘broadly over’

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Queue in Singapore
Fans lining up to get their hands on a new iPhone.
Photo: Apple

HSBC analyst Erwan Rambourg thinks that Apple’s hardware growth is “broadly over for now,” as iPhone sales stall.

Rambourg is the latest analyst to downgrade Apple’s price target. However, he doesn’t think investors should sell up just yet. “[It’s] too late to sell, too early to buy,” the analyst advised.

HSBC and First Direct now support Apple Pay in the U.K.

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Apple Pay is available in the U.K. from the following banks and credit card companies.
Photo: Apple

Apple Pay rolled out in the U.K. this month, and today the service got a bit better, as Apple now supports HSBC and First Direct credit and debit cards in the country.

That brings the total supported U.K. banks and card providers to nine — including Natwest, Santander, Nationwide, RBS, Ulster Bank, HSBC, First Direct, MBNA, and American Express.