Apple shares could be in for a disappointing 2019 as the technology sector faces its "strongest headwinds in a decade," one equity research analyst told CNBC Thursday.
It's been a rough year for big tech stocks, with data and privacy controversies, falling chip prices and stagnant smartphone sales. China's slowing economic growth and the continuing U.S.-China trade war have set Apple and its numerous Chinese manufacturing facilities directly in the line of fire. Apple shares are down 7 percent year-to-date amid this broader sell-off for tech with the Nasdaq set for its worst year since 2008.
"We've seen (Apple) on valuations even lower than where they are today," Pelham Smithers, the managing director of London-based equity research and market intelligence firm Pelham Smithers Associates, said in an emailed note to CNBC.