“Apple Inc. has found itself in the strange position of having joined the ranks of those companies that have lost their own narratives. After the company’s earnings, CEO Tim Cook announced that Apple would no longer be offering up unit sales and guidance figures for the iPhone, iPad, Apple Watch and Mac units,” Jon C. Ogg writes for 24/7 Wall St. “While this means that analysts and investors are going to have a long adjustment period to forecasting Apple’s numbers, it likely just means less clarity and more uncertainty.”

“While Apple may not be in anywhere close to as bad of a position as General Electric and other troubled companies, this is beginning to look ever more like Apple’s narrative is now being spun by the outside world rather than by Cook and corporate announcements,” Ogg writes. “It is usually quite bad for a company when its stock price is driven by outsiders and other companies affecting the share price day in and day out. This often occurs without anything new being said and with repetitive commentary simply coming out each day.”

MacDailyNews Take: This occurs so often that it’s been happening routinely for over four decades now.

“A lowered target price from JPMorgan went to $266 from $270 on Monday,” Ogg writes. “Now Apple faces another issue from Goldman Sachs analyst Rod Hall. On Tuesday morning, the analyst maintained his Neutral rating but lowered his price target on Apple by 13% to $209 from $240… Other analysts have downgraded Apple as well, some with target cuts only but some with formal ratings cuts. On November 2, Maxim maintained a Hold rating but lowered its Apple target to $212 from $221. On the same day, Merrill Lynch downgraded the stock to Neutral from Buy.”

Read more in the full article here.

MacDailyNews Take: Apple does what Apple does, they disrupt; in this case, the narrative surrounding the company. Enough with market share and unit sales. It no longer matters with 1.3 billion installed devices and high customer satisfaction.

In the short term, Apple shorts, whining analysts deprived of their beloved-yet-largely-unimportant unit sales numbers, and other anti-Apple FUDsters/naysayers will pour speculation into Apple’s unit sales vacuum. Apple’s results will squelch that in due course.

SEE ALSO:
Apple lost the perception game in the short term – November 8, 2018
Proof of Apple’s pricing power wasn’t enough to assuage the market – November 7, 201
Apple’s focus is not iPhone market share, it’s on dominating the higher end of its markets – November 3, 2018
Apple’s iPhone just had its best year ever – November 3, 2018
Why Apple’s unit sales reporting doesn’t matter anymore – November 2, 2018
The ‘smart money’ shrugs off Apple’s decision to no longer disclose unit sales – November 2, 2018
Apple rams their message home: Think ‘Apple as a Service’ – November 2, 2018
Investors bristle as Apple occludes iPhone unit sales data – November 2, 2018
Apple’s decision to stop reporting unit sales of iPhones, Macs, and iPads is a ‘defining moment’ – November 2, 2018
Apple to stop reporting iPhone, Mac, and iPad quarterly unit sales – November 1, 2018
Apple tumbles 7% after reporting record-breaking quarterly earnings – November 1, 2018
Apple beats Street with another record-breaking quarter – November 1, 2018