“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.
SEE ALSO:
iPhone sales are much stronger than some seem to realize – February 2, 2018
Dow plunges more than 600 points; Apple shares fall – February 2, 2018
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.]