“Shares in LG Display (034220.KS), a flat-screen supplier for Apple Inc., plunged more than 4 percent on Thursday, hit by concerns of weaker demand from the iPhone and iPad maker after disappointing revenue forecast by a chip supplier to the U.S. firm,” Miyoung Kim and Hyunjoo Jin reports for Reuters.
“‘A warning by Cirrus Logic fueled concerns about sluggish sales of iPhone and iPad and adversely affect shares of LG Display, which generates about 20 percent to 25 percent of its revenue from Apple,’ said Jay Yoo, an analyst at Korea Investment & Securities,” Kim and Jin report.
Read more in the full article here.
MacDailyNews Take: Cirrus Logic attributed their guidance to “a decreased forecast for a high volume product as the customer migrates to one of Cirrus Logic’s newer components.” Ooh, that sounds oh-so-horrible for Apple! Unless, of course, you can read and comprehend basic English.
I know there has been lots of rumors about order cuts and so forth and so let me just take a moment to make a comment on these. I don’t want to comment on any particular rumor because I would spend my life doing that but I would suggest it’s good to question the accuracy of any kind of rumor about build plans and also stress that even if a particular data point were factual it would be impossible to accurately interpret the data point as to what it meant for our overall business because the supply chain is very complex and we obviously have multiple sources for things, yields might vary, supply performance can vary. The beginning inventory positions can vary, I mean there is just an inordinate long list of things that would make any single data point not a great proxy for what’s going on. – Apple CEO Tim Cook, Q113 conference call with analysts, January 23, 2013
Related articles:
The bull case for Apple; AAPL not as ‘doomed’ as some may think – April 17, 2013
Apple nightmare scenario finally priced in; a great set-up for April 23rd earnings report – April 17, 2013
iPad mini shipments expected to drop 20-30% in Q213 as consumers wait for next-gen model, sources say – April 17, 2013
Apple stock price swoons after Cirrus Logic warns – April 17, 2013
Didn’t any of these idiots read the Cirrus statement concerning a transition?
Read? No.
“…concerns of weaker demand from the iPhone and iPad maker…”
“…concerns about sluggish sales of iPhone and iPad…”
Apple may not have had a blowout quarter. Apple may even have experienced a modest YoY decline. But the doomsday talk is ridiculous. I, for one, have no intention of selling into this dip.
Ha Ha. Run lemmings run.
The facts are not important here for the market. The brokers can spin this any way they like to get the reaction they want.
It’s not that they don’t get Apple. It’s that the hype around the company means that these types of headlines can create a market response.
It’s a bit like the knee-jerk response. If you hit in the right place you’re guaranteed to get a reaction. For brokers its a perfect way to make money.
I blame the short market. It breeds fomenting and helps create instability in the market. Anytime you can make money from a stock decreasing in value opens up the process to manipulation.
But longs and positive information can also manipulation. Think about it.
wonder how much $$$$$$$ did Samsung paid these Kimchi reporters Miyoung Kim and Hyunjoo Jin.
Watch “Wall Street” Great movie, stupid, manipulating, lying cheats.
Overheard in the G boardroom
“Ooops, sales are down, how can we cushion the news and lessen the impact?”
“Don’t we sell stuff to Apple?”
“yeah, why?”
“Lets blame our sales on them, our stock will slip a little, theirs will fall alot, we won’t be hurt nearly as bad as if we say sales are down.”
“Great idea!”
When u want to launch new ipad n iphone 5S?!? Aku tak boleh tahan alrdy. My wife n i planning to make new model of myself nxt yr, so just quickly launch ur new model alrdy.
How can 4% be considered plunging?
Too many stupid investors and traders in this market that shouldn’t really be meddling in stock. I read the pre-announcement by Cirrus and I don’t think there is any need for concern for Apple or Cirrus for that matter. Sure, shippemts of Apple products will slow a bit before a new product and sure Cirrus margins will be lower because of inventory but that’s only temporary. I saw nothing I would consider bad in the note from Cirrus. Also as Mac Daily News points out its stupid to make too much of this. It probably just shows that a new product is coming I.e. less stuff shipped into the channel, not the same as a dams d degradation. With new products dand if anything will probably pick up for both Apple and Cirrus.
Demand will pick up*
Sometimes auto correct is incorrect.