“Shares of Apple Inc. slid 0.4% in premarket trading Wednesday after BMO Capital Markets analyst Tim Long downgraded the stock to market perform from outperform,” Emily Bary reports for MarketWatch.
“‘There has been much in the press about order cuts for iPhone X, and we believe a weaker mix in Q1 [the December quarter] will push estimates lower for March and beyond,'” he wrote,” Bary reports. “‘We still view the iPhone base as growing, and the devices are on average getting older,’ Long wrote. ‘However, without a compelling product cycle in September, we may see a slow upgrade cycle once again.'”
Bary reports, “Apple shares have fallen in six of the last eight trading days, mainly on concerns about a production slowdown for the iPhone X.”
Read more in the full article here.
MacDailyNews Take: When your analyst is basing his ratings on Nikkei’s annual anti-Apple FUDfest, it’s time to get yourself a new analyst.
In what has become the Nikkei’s annual shocker: Apple is decreasing production in the quarter after Christmas. Cue the horror!
Everything in this Nikkei article is conjecture, estimates, and FUD.
This report (as with many of Nikkei‘s Apple-related reports) smacks of a plant designed to depress the price of AAPL. Plain and simple. And Nikkei seems to be the preferred place to do it.
Those who fail to learn from history are doomed to lose money in the stock market. History lesson below. — MacDailyNews, December 30, 2016
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