“Shares of Apple Inc (AAPL) suppliers rebounded on Tuesday after heavy losses in the previous session as investors remain confident of continued demand for the hot-selling devices of the California-based company,” Clare Jim reports for Reuters.
“Two sources in Apple’s supply chain said there were no official order cuts from their client, however, one said he would be cautious about actual orders to be placed for the fourth quarter,” Jim reports. “‘There’s no official downward revision and we’ll still prepare the same amount of materials for Q4 as planned, but we’ll also be cautious about actual orders to be placed as the overall economy is slowing,’ a source with direct knowledge of the matter told Reuters.”
Jim reports, “Another source said there was no change in orders from Apple for the fourth quarter and their business would not be affected… On Monday, Apple suppliers tumbled following an analyst report from JP Morgan out of Hong Kong that said the U.S. company was cutting fourth-quarter sell-in orders for its iPad tablet by 25 percent. A U.S.-based JP Morgan analyst issued another report later, however, saying he was aware of the supply chain noise and reiterated that he expected Apple’s iPad and iPhone build plans and shipment levels to continue to increase going forward.”
Read more in the full article here.
MacDailyNews Take: Mission accomplished.
Okay, how about JP Morgan stepping up and firing everyone in the HK office.
SEC, can you say “manipulate”?
Hello, Hello?
The SEC has no more reason to investigate JP Morgan in this instance than they did with the Madoff affair (right?). Apparently, no one did anything wrong, no one is culpable, and life goes on with one securities horror-show after another.
Truly, you have to possess cajones of steel to invest in equities in this 21st century.
I agree, about requiring cajones of steel. But unregulated free-market, is that not what the voters mandated with the last elections? That is what we are hearing from those in power in the house and now we are getting it. How does it feel folks?
Someone just ordered a new Aston.