“JMP Securities analyst Alex Guana on Wednesday downgraded his rating on Apple Inc. stock because of a slowdown at its primary manufacturer in Japan,” Silicon Valley / San Jose Business Journal reports.
“‘We don’t know the cause of the Hon Hai deceleration, but possible causes could include simply in-line iPhone sales due to more significant Android competition, weakness in computing products as tablet demand grows, and/or product risk around the iPad 2,’ Gauna said,” Silicon Valley / San Jose Business Journal reports. “Not many analysts apparently share Gauna’s concerns so far. Factset shows that of the 54 ratings on Apple, 93 percent of analysts rate it at ‘buy’ or ‘overweight.'”
Full article here.
Tiernan Ray reports for Barron’s, “Gauna’s note is not really about last week’s earthquake very much at all, but rather about a possible disappointment in Apple’s March-quarter report that was building for some months. In any event, ‘After a five-year track record of beat and raise an average of 23% [at Apple], we should take note of the deceleration,’ says Gauna.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Brawndo Drinker” for the heads up.]