“Allow me to add my voice to the unwashed masses, irresponsibly speculating about Apple stock and whether it will go up or down from here,” Jeff Reeves writes for InvestorPlace. “I think it’s going down — and AAPL stock may continue to struggle for some time.”
“I think if you take a logical look at the company and its numbers, you can carve through the hysterics and get right to the heart of Apple’s growth challenge in the coming months and years. To me, that challenge begins and ends with the iPad — and I expect continued disappointment in Apple’s tablet sales to act as an anchor on AAPL stock,” Reeves writes. “Consensus estimates were for around 19.7 million iPads to be sold last quarter, up fractionally from the 19.5 million sold last year. But Apple sold just 16.35 million iPads for a 16%-plus decline in iPad sales. This is ugly given the fact that the broader industry trends still are very much in favor of growth.”
“Apple needs to claw back market share in a hurry,” Reeves writes. “And if it’s fighting against a slowing tablet market where competitors are slashing prices and just as desperate for tablet sales, it’s going to be a rough road for iPad sales in 2014 and beyond.”
Read more in the full article here.
MacDailyNews Take: Another clueless soul hopelessly trapped in the Church of Market Share.
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