Apple tightens belt as trouble rings in from dull iPhone demand and beyond

Apple will see the growth rate of its Services division decelerate come fiscal 2019, says analyst.

Distress for Apple Inc. continues to mount, and soft demand for new iPhones is only one of its troubles.

Apple will see the growth rate of its Services division decelerate come fiscal 2019, Macquarie analyst Benjamin Schachter said in a research note. The firm slashed Apple’s price target to $188 per share from $222 although it still rates the stock outperform.

App Store, Licensing, and Apple Care are the segment's top three drivers, and Schachter anticipates these areas "will slow in the coming quarters as tough comps and other issues impact growth rates." And unfortunately, the faster-growing business from Music, iCloud and