“They’re spooked,” Philip Elmer-DeWitt reports for Fortune. “More bad news from Asian smartphone supply chains has triggered two rounds of cuts in Wall Street’s price targets for Apple, one in December and another this week.”
One example:
Andy Hargreaves, Pacific Crest: Stop Me If You’ve Heard This; Lowering iPhone Estimates. We are reducing our F2016 iPhone unit estimate to 213 million from 236 million. This suggests a lower trough during the 6s cycle and drives our price target to $132 from $142. Despite the reduction, we continue to view the risk/reward on AAPL positively as we anticipate growth in the 7 cycle, which should drive stock appreciation through 2016.
More excerpts from the sell-side analysts’s notes on Apple in the full article here.
MacDailyNews Take: For how much longer will the AAPL deep discounts last?
SEE ALSO:
Udall: Apple’s cash flow undervaluation is ‘f’ing absurd’ – January 8, 2016
Morningstar: Apple sell-off looks overdone – January 8, 2016
Real world iPhone 6s adoption data contradicts Apple analysts’ so-called ‘supplier channel checks’ – January 7, 2016
Top-rated analyst: Apple’s iPhone business is healthy – January 7, 2016
Apple falls for third day as so-called ‘iPhone woes’ trim $40 billion in value – January 7, 2016
Apple stock price tumbles 3% in premarket, now trades well below $100 – January 7, 2016
Apple stock slumps near $100 amid ‘iPhone sales worries’ – January 6, 2016
Wall Street’s freak out over declining iPhone sales is overblown – January 6, 2016
Piper Jaffray: Apple’s iPhone production cut do not necessarily presage sales decline – January 6, 2016
Foxconn plans ‘rare’ holiday as iPhone output fears rattle investors – January 6, 2016
Apple to release Q116 earnings, webcast live conference call on January 26th – January 5, 2016
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]