“Since Friday, there have been three new ominous data points for Apple, which is scheduled to report earnings on July 23, 2013 after the market close,” Nigam Arora writes for Forbes.
“First Samsung reported lower than expected earnings estimates. Galaxy S4 from Samsung is the main rival of iPhone 5. Lower than expected earnings from Samsung are due to slowing sales of Galaxy S4,” Arora writes. “Taiwan’s HTC , another big player in the high end smartphone market, also reported lower than expected earnings… A report by Wedge Partners said that Apple has cut its iPhone production forecast by 20% for the second half of 2013 to 90 – 100 million phones.”
Arora writes, “If Apple were to report earnings close to the low end of estimates and there were no new product announcements combined with projections on the low end, the stock has further to fall. If such a fall were to occur, in my analysis it will be a buying opportunity…”
Read more in the full article here.