“With Apple’s reversal Monday came a flurry of positive analyst’s notes,” Philip Elmer-DeWitt reports for Fortune.
“‘Apple’s shares may have found a bottom,’ wrote Sand Hill Insights’ Chuck Jones over the weekend. On Monday the stock complied. It closed at $119.68, up $4.155 (3.6%) for the day,” P.E.D. reports. “With the bounce came a flurry of positive analyst’s notes.”
Here’s one: No evidence of a massive drop in orders to suppliers. “Fears of broad order cancellations in Apple’s supply chain driven by soft China demand appear exaggerated to us. Our Taiwan Technology team, led by Anne Lee, notes that some suppliers, such as Catcher, have not seen cancellations over the past month. Bottlenecks may defer demand slightly for some vendors, but stable orders and an on-track 6S launch suggest fears will be short lived.” — Jeffrey Kvaal, Nomura
Read more in the full article here.
MacDailyNews Take: As we wrote back on June 13th:
Those who are interested in actually analyzing companies vs. fomenting low-information investor sentiment against them, are those who listen to what Apple’s management tells them:
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, January 23, 2013
SEE ALSO:
Merrill Lynch cuts Apple rating; Jefferies, Global Equities foresee impending ‘disaster’ – August 5, 2015
Drudge screams: ‘APPLE FUTURE QUESTIONED’ – July 21, 2015
Apple shares plunge after ‘disappointing’ record third quarter results – July 21, 2015
Apple pulverizes the Street with record third quarter results – July 21, 2015
[Thanks to MacDailyNews Reader “BD” for the heads up.]