“Shares of Apple Inc. fell 0.4% in premarket trade Wednesday, which puts them in danger of a fifth-straight decline, after the technology giant was downgraded by analyst Rob Cihra at Guggenheim Securities, who said rising average selling prices (ASPs) was ‘no longer enough’ to offset declining iPhone units,” Tomi Kilgore reports for MarketWatch.
“Cihra cut his fiscal 2019 earnings estimate to $12.97 a share from $13.41 — the FactSet consensus is $13.41 — and his revenue estimate to $273 billion from $281 billion,” Kilgore reports. “‘Over the past 10 years, Apple’s iPhone ASP has increased a dramatic +$220, or 40%, reflecting its growing value to both consumer and business markets, but nearly half of all that just came in [fiscal year 2018] alone, making a period of digestion now likely,’ Cihra wrote in a note to clients.”
Read more in the full article here.
MacDailyNews Take: Like lemmings the so-called analysts dart in unison inside their echo chamber.
Can we talk this under $190, please? The truck is backed up and ready to load!
BACK.UP.THE.TRUCK………………………..!
ANALysts are WRONG on AAPL!!!!
AAPL getting downgraded left and right. The stock is struggling to stay positive today, dropping hard now just minutes after the opening bell. No one has any faith in this company now.
No one has any faith in Pipeline. He’s all smoke and mirrors.
No one has any faith in Eddy Cue. He’s clueless.
No one has any faith in Jony Ive. He’s off designing the perfect doorknob.
No one has any faith at all in Apple and it shows.
AAPL shareholders have to shut up and take their b!tchslapping like a man (or woman).
Aaaaannnd just like that AAPL goes negative, with heavy selling now driving the price down another -$1 and falling.
Where are the buyers?
Where are those who truly believe that Pipeline and his yes men sycophants are leading Apple to a better place?
Where are the buyers of AAPL who believe that Pipeline is innovating new and exciting products and not just riding off of Steve Jobs’ formidable coattails?
Take into account that this is November, and many funds will be closing out positions by month end to lock in gains (and offset other losing positions) before they have to report their annual return numbers. Between that and retail investors closing positions before the end of December for tax purposes, you cannot read ANYTHING of importance from trading flows until year end regarding actual sentiment about the business, if you ever can. The casino keeps the pump-and-dump-then repeat machine running at all times, and it has little to do with a company’s actual business, especially for Apple.
Sorry, but year end close outs happen every year. AAPL has fallen $35 in the past month. That is not year end close out activity. That is wholesale liquidation of positions by massive institutions/shareholders.
Nice try.
Those genius massive institutions have totally screwed their pair trades on oil/nat gas and are getting slammed with margin calls this week.
Also some automated selling based on breakdown of technical levels. Today broke through 200 day average.
Yes…AAPL broke hard through the 200 day moving average, triggering another wave of HUGE selling.
Massive liquidation of Apple shares is going on right now. Down another -$4 in VERY heavy volume.
PIpeline must be so proud of himself.
Now down -$5. Massive volume.
NO BUYERS are stepping up at these crazy low prices.
Well..
Panic is generaly more prevalent than sound calm minds.
Panic is one of the main culprits to lose money in the market.
Most people are short term thinkers.
That is ‘where’ the people you ask about are.
Imo
It’s heart wrenching to see AAPL plunged further away, however, I like to believe AAPL will bounce back in the near future, if not next quarter in 2019. Analysts punished AAPL for not disclosed unit-sales, for being not transparency. Regardless, Apple beat Wall Street expectation from top and bottom lines. I will continue hold AAPL while collect dividends on Thursday coming.
AAPL dividends are worthless. You can get 1.3% ANYWHERE.
I’ve lost in excess of $30,000 in the past month watching a huge chunk of my gains drain away. Dividends mean NOTHING when that happens.
Why dont you sell and move on… and relax…
whats the point of all this bashing…. you feel it will help anything…?