“Shares of European suppliers of microchips, sensors and circuitry to Apple fell on Wednesday after the smartphone company’s much-awaited iPhone sales missed expectations in the second quarter,” Helen Reid reports for Reuters. “Suppliers rely on strong iPhone sales for part of their profits, and in some cases Apple’s announcement on Tuesday reawakened concerns about excessive exposure to Apple.”
“Shares in Dialog Semiconductor, which provides power management systems for Apple, fell 3 percent,” Reid reports. “Swiss company AMS, the maker of optical sensors for iPhones, dropped 2.1 percent and Italy’s STMicro, which provides the phone’s accelerometers, gyroscopes and motion sensors, fell 1.7 percent.”
“Apple said on Tuesday it sold 50.76 million iPhones in the quarter ended April 1, down from 51.19 million a year earlier, indicating that customers may have held back purchases in anticipation of its 10th anniversary edition,” Reid reports. “Analysts on average had estimated iPhone sales of 52.27 million, according to financial data and analytics firm FactSet.”
Read more in the full article here.
MacDailyNews Take: The ocean is being sucked out ahead of the coming iPhone 8 tidal wave.
We’re seeing what we believe to be a pause in purchases of iPhones which we believe are due to the earlier and much more frequent reports about future iPhones. That part is clearly going on and what’s going on behind the data. – Apple CEO Tim Cook, May 2, 2017
And the stupidest of investors must know of the impending monstrous iP8 upgrade cycle that lie dead ahead.
I don’t have a gambling problem, but are you sure a good portion of that wave isn’t already reflected in the stock price?
That’s possible but we’re about 2-3 quarters out from seeing the effect.
And that’s why it’s gambling.
The whole stock market is a gamble.
To the nth degree…
It’s probably a good time to buy those stocks as long as you believe in the next iPhone ‘supercycle.’
Or maybe customers held back purchases because iPhone is one of the furthest behind in technology (wireless charging for years already, huge bezels, a home button that’s garbage in colder climates, no headphone jack, same design for over three years), has one the worst battery life of almost ALL smart phones the same size, and has a HUGE price tag, just maybe! But keep reporting that fake news there.
But enjoy that MONSTER IN SIZE price tag when apple does finally catch up with the rest of the world tech wise, haha, Mark Dice said it best, mentally enslaved morons.
How can anal ysts say this is a miss. Its a 3 years old iPhone and still selling 50+ million.
How can 4ever say this is a 3-year-old iPhone? It may look the same, but all the key tech inside is new: chip, camera, etc.