Apple's 10.2.1 iOS Beta Update Fails to Fix the '30% Bug'?
Per a Forbes report, Apple Inc. AAPL has not yet been able to troubleshoot the “30% Bug” issue that has been affecting all iOS 10 supported iPhones with the exception of iPhone 7 and 7 Plus.
Reportedly, Apple’s latest iOS 10.2.1 beta update has failed to fix the battery drain problems. The Forbes analyst has cited few beta users who are still suffering from sudden shutdowns when the battery reaches near the 30% mark. The bug surfaced after the iOS 10.1 update and the problems compounded with the 10.1.1 update. Reportedly, several users complained that their iPhone batteries would suddenly drop to 30% and even result in sudden shutdown of the phones.
Per media reports, earlier Apple faced safety issues in China as eight iPhone 6 handsets reportedly exploded. As per a report released by the Shanghai Consumer Council last month, iPhone 6 batteries powered down emitting smoke and eventually exploded. Apple failed to provide adequate explanations and take up any recall measures.
Moreover, the battery draining problem has been critiqued by China Consumers Association as the company failed “to meet basic consumer needs for normal wireless communication”. With Samsung’s Galaxy Note 7 fiasco and iPhone explosion and battery problems, analysts observe that all these have caused a sense of “distrust” among Chinese consumers towards international (as well as expensive) smartphone brands. Plus, increasing competition from home grown cheaper smartphones, has highly affected the sale of iPhones in the country.
Apple Inc. Price and EPS Surprise
Apple Inc. Price and EPS Surprise | Apple Inc. Quote
Slowdown in demand from key regions like China, which, if it continues, can significantly impact Apple’s financials going ahead.
At present, Apple has a Zacks Rank #3 (Hold). In the past one year, Apple’s shares are up 24.15%, compared with the Zacks Computer Mini industry’s increase of 24.41%.
Better-ranked stocks in the wider technology space include GrubHub Inc. GRUB, Veeva Systems Inc. VEEV and Akamai Technologies, Inc. AKAM. While GrubHub sports a Zacks Rank #1 (Strong Buy), Veeva and Akamai are Zacks Rank #2 (Buy) stocks. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the trailing four quarters, GrubHub, Veeva and Akamai have yielded positive average earnings surprises of 26.01%, 47.77% and 2.51%, respectively.
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