“With several Apple suppliers licking their wounds after a week of losses, at least one analyst has started to upgrade them,” Anita Balakrishnan reports for CNBC. “Does that mean that shares of the iPhone maker have hit a bottom?”
“Pacific Crest Securities analyst John Vinh released a note late Thursday upgrading precision circuit maker Cirrus Logic, after the Apple supplier announced preliminary fiscal third-quarter net revenue of approximately $347 million, falling short of the $386 million predicted by analysts at Thomson Reuters,” Balakrishnan reports. “Shares of Cirrus tumbled after hours, but given the pullback, Vinh wrote the stock is now “a buying opportunity.” Analysts at Stifel also called for a bottom in the circuit maker’s shares.”
“By Friday afternoon, Cirrus shares were up again, more than 4 percent,” Balakrishnan reports. “Apple suppliers like Skyworks and Avago suffered double-digit percentage-point losses over the course of the week. But both were trading slightly in the green Friday afternoon. Could the suppliers’ bounce mean relief for battered shares of Apple, which saw a 2 percent uptick midday Friday as the markets struggled for gains? Drexel Hamilton analyst Brian White has a ‘buy’ on the stock, writing that ‘Apple’s valuation has reached the point of absurdity.'”
Read more in the full article here.
MacDailyNews Take: Our hopes for $95 pre-earnings are fading. Well, there’s always next week! Maybe the shorts can concoct something else specious to plant in Far East media.
SEE ALSO:
Apple: Analysts’ price targets are tumbling – January 8, 2016
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
The obvious conclusion is that Apple has made the next iPhone so thin that it no longer uses any parts. Bad for suppliers, good for fans of thin.
Lol.. Lol.😆😆😆😆😆
The new iPhone will no longer need assembling as it will be 3D printed with liquid metal.
Invest in AAPL avoid the precarious suppliers
I’d like to touch Apple’s bottom.
Apple bottoms are the best 🙂
Then again. January is no December. Lol.
Love when anal… Yst have no clue as to what month it is. 🙁
The dump has finished, here comes the pump until Jan 26th.
Dump again after Apple’s record sales disappoint Wall Sreet’s ‘revised’ over inflated Christmas quarter. Rinse and repeat.
Nah, Apple wouldn’t 3d print the iPhone. Then someone else would get the schematics and everyone would get iPhones, at a way cheaper cost, lol. No, suppliers, … Samsung… Will be around for a while yet.
Sent from my iPhone
>
As usual, we’re talking about AAPL having hit bottom, NOT Apple the company having declined even an iota. And, as we’ve determined this week, the decline in AAPL has had nothing-at-all to do with Apple the company. AAPL instead has been the victim of the usual manipulation as well as the bumbling buffoonery of the Chinese economy and its messed up government’s attempts to control it. Silly rabbits.