Apple Inc. (Nasdaq: AAPL) investors are excited to get market feedback on iPhone X’s unique and advanced features. Unfortunately, an annoying bug in one of the most basic features of the smartphone is getting much of the attention this week.
Users are reporting that the latest version of the iOS operating system software contains a bug that autocorrects the letter “i” to an “A” and a question mark inside a box. While iPhone X users now have facial recognition technology, animated emojis and a larger OLED screen for the first time, the iOS bug has made texting on the new phone a frustrating experience for some users.
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This glitch is found in Apple’s iOS version 11.1, and appears to have nothing to do with the hardware of new iPhone 8 or iPhone X models. Apple has said the bug will be “fixed in a future software update.” In the meantime, Apple’s support page details how iPhone users can correct the bug by going to Settings, then General, then Keyboard, then Text Replacement and manually entering an autocorrect shortcut to replace a lower-case “i” with an upper-case “I.”
For now, Apple investors can breathe easy that the issue appears to be a quick fix. Apple stock has rallied 50 percent in 2017, and analysts have high hopes for the company following an impressive third-quarter earnings beat last week.
“The iPhone X is, of course, the product that will make or break shares of AAPL over the next year,” Loup Ventures analyst Gene Munster says. “We believe demand for the iPhone X will, over the next four quarters, play out to be slightly more favorable than increasingly optimistic analyst estimates.”
The iPhone X officially launched on Nov. 3, but Loop Capital Markets analyst Ananda Baruah says it may be another two quarters before investors get a true sense of the size of the current iPhone cycle. “We believe that March could end up being the largest beat relative to Street estimates for this iPhone cycle,” Baruah says.
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Loop Capital has a “buy” rating and $200 price target for Apple stock.
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Investors Shrug off Apple Inc. (AAPL) iPhone Bug originally appeared on usnews.com
