“Morgan Stanley believes Apple’s poor iPhone sales results and rising inventory levels are bad news for the industry’s chip suppliers,” Tae Kim reports for CNBC.
MacDailyNews Take: Apple did not have “poor iPhone sales results” and anyone who tells you they did is either ignorant or a liar.
“‘Disappointing iPhone units combined with an inventory overbuild should continue to have a pronounced impact on Apple suppliers and the smartphone segment more broadly,’ Morgan Stanley semiconductor analyst Joseph Moore wrote in a note to clients Monday entitled ‘iPhone weakness is driving a sharp inventory correction.’ ‘We remain cautious on Skyworks Solutions, and see some risks to the broader semis cycle,'” Kim reports. “As a result, Moore reiterated his underweight rating on Skyworks Solution shares. He has a $85 price target for the chip supplier, representing 14 percent downside to Friday’s close.”
Read more in the full article here.
MacDailyNews Take: Nowhere in the article is the rather salient point mentioned that Q118 was a 13-week quarter vs. a 14-week first quarter in fiscal Q1 2017. iPhone unit sales did not decrease on a weekly basis, only on an unequal period of time labeled a “quarter.” Were Q118 14 weeks or Q117 13 weeks in length, iPhone unit sales grew YOY.
Those who claim otherwise are disingenuous.
iPhone sales are much stronger than some seem to realize – February 2, 2018
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Apple breaks record for biggest ever company profit – February 2, 2018
So much for worries over Apple’s iPhone X – February 1, 2018
MacDailyNews presents live notes from Apple’s Q118 conference call – February 1, 2018
Apple smashes Street with biggest quarter in company history – February 1, 2018
[Thanks to MacDailyNews Readers “David E.” and “Judge Bork” for the heads up.]