According to the analysts, Apple is going to be trading sideways for the next year. They've set a price target of between $440 and $550.
Here are some of their reasons:
● High-end market for smartphones and tablets will be saturated sooner than expected.
● Demand for 'incremental' hardware improvements is 'waning' meaning less people will update to the latest and greatest iPhone.
● iPad mini will hurt Apple's revenue and EPS growth
● There are no exciting products on the horizon.
● Apple television won't be huge business, will make less money and sell less than iPhone.
● Cheaper iPhone will cannibalize existing sales and profits.
● Software and services revenue are enough to accelerate earnings
Looking at the chart below you can see their iPhone sales estimates for 2013 and 2014.