Apple shares continue to fall as iPhone lens-maker reports sales drop; analysts downgrade

“AAPL stock is sliding further in early market trading, more than 3% down on the previous close at the time of writing,” Ben Lovejoy reports for 9to5Mac. “It follows a 4.4% fall during yesterday’s trading.”

“In the last 30 days, the stock has fallen from $209.95 on 7th November to around $171 now,” Lovejoy reports.

“The market is responding to two pieces of bad news. First, and most significantly, iPhone lens-maker Largan Precision has announced a 25% drop in November sales, compared to a year ago,” Lovejoy reports. “Second, there have been more pessimistic analyst reports, CNBC citing two of them. Rosenblatt Securities believes that the fall will continue and that there will be no recovery within a year… UBS was more optimistic, with a price target of $210, but said that a survey had shown the lowest level of purchase intent seen in five years.”

Read more in the full article here.

MacDailyNews Take: This too shall pass and the lemmings, er… “analysts” will eventually turn the other way again.

In fiscal year 2018, Apple’s revenue grew over $36 billion to $265.6 billion. For the current quarter, Apple has guided for revenue between $89 billion and $93 billion, a new all-time record. (That’s revenue of roughly $1 billion — with a B — per day.)

When analysts learn to see without the unit share blinders Apple has just removed, hopefully their eyes won’t pop out of their heads when they finally see those huge numbers and realize how very much more is to come.MacDailyNews, November 28, 2018

When the lemmings, er… “analysts” start their upgrade parade, then you’ll know the bottom has been found.MacDailyNews, November 26, 2018

SEE ALSO:
The pessimism and hypocrisy surrounding Apple is endless – November 28, 2018
Here’s why Apple is ending unit sales reporting of Mac, iPhone, and iPad – November 28, 2018
The end of iPhone, Mac, and iPad unit sales reporting is not bad news for Apple – November 27, 2018
Is Warren Buffett adding to Apple under $175? – November 26, 2018
Explaining the recent Apple selloff, and why the stock looks undervalued – November 23, 2018
Apple is no longer worth anywhere near one trillion dollars – November 23, 2018
Apple to lower iPhone XR pricing in Japan in order to boost sales – November 23, 2018
Why the bad news on Apple keeps on coming – November 23, 2018
In the darkest hour of Apple’s ‘white-knuckle period,’ some investors are loving it – November 21, 2018
Misreading Apple’s supply chain and iPhone XR demand – November 15, 2018
iPhone XR production cuts not due to soft demand – analyst – November 10, 2018
Nikkei claims iPhone XR production cuts, Apple stock drops over 3% – November 5, 2018

22 Comments

  1. Apple is gaining a lot of steam this year and focussing on keeping their customers happier. Like a broken record every time friends and family whine about or discuss their PC problems I say get a Mac, get an iPhone, throw away alexa. Finally I’m getting those calls from long time sufferers asking which Mac to get.

    Anecdote – people ditching powerpoint for keynote because it comes free on the lowest cost MacBook air. Total cost of ownership is way less.

    Prediction – mac sales will be up because they finally updated the air and the pizza box

  2. From $232 to $220, to $210, to $190, now down to nearly $170.

    At what point do Apple apologists recognize that this is NOT market manipulation?

    At what point do Pipeline knob slobbers recognize that the market is accurately pricing Apple?

    Is it $130/share?

    Is it $100/share?

    The knob slobbers can live in their own dream world.

    The market price is real.

    Say this time next year, after a full year of trading Apple is at $150/share, will the knob slobbers recognize that Pipeline’s Apple is washed up?

    Price increases are not real growth.

    Ignoring customers is a problem.

    Pipeline has a lot of explaining to do.

    The market is firmly in control of Apple.

    Pipeline is weak and limp wristed. He has nothing to offer investors.

    And it shows, now 5 weeks in a row.

    Heavy selling.

    Very heavy losses.

    Think about this. Everyone who has bought AAPL at $172 or more is now bag holding.

    Seriously.

    Bag holding Apple. To the tune of nearly $70/share!

    That’s MILLIONS of people.

    People who should have sold. Long ago, should have sold.

    Now they are bag holding.

    And angry….very very angry at Pipeline.

    1. Isky Von Tink, is that you? You both write the same bullet point style and very similar critiques. Doesn’t matter, could not agree more. Let’s hope the apologists are correct and this too shall pass. But I believe this time is different. I have not sensed the same level of Apple natives unrest (core users) and also others since the 1990s. It has been building for years under Cook and culminated this year in three overpriced iPhones, overpriced and under powered new 2018 Macs with the dongle and adapter tax, killing Airport instead of remaking it as the industry standard and let’s not forget IGNORING Mac Pros for over five years. In more ways than one, 2019 possibly is the make or break year for CEO Cook. Sorry, but my support was lost years ago…

      1. I don’t remember Tink ever spewing so many very thinly veiled gay bashing phrases. Thus I doubt it’s Tink.

        Yes, as many people here will note, I’ve been of the mind that Cook is Sculley 2.0. The evidence is piling up even more rapidly as of late.

        It’s true that 2019 almost certainly will be Cook’s make or break year.

        1. Oh, is that what “knob slobbers” means, went over my head. No way to prove it but suspect it is so, no matter.

          Most definitely Cook is “Sculley 2.0.” Yes, 2019 is pivotal grande…

      2. Goeb: more shadow boxing I see. Perhaps you should respond to facts instead of blindly attacking the accurate messenger.

        In other news, the orange MAGA idiot is presiding over one of the greatest self-inflicted market meltdowns in a century, with AAPL massively exposed. Open your eyes. That’s what happens when Trump picks fights with friends, goes to trade war completely unprepared with a single country that provides more cheap labor for US corporations than any other, and doesn’t bother to listen to advisers.

        The parallels between the USA and AAPL are many. Apple is just one casualty in the reckless fiscal and economic policies being enacted by the least competent administration ever. The market speaks for itself. Nobody can or wants to manipulate it downward as it has the last year or so.

        Prediction: Goeb will respond to this message with partisan attacks rather than looking at the facts or discussing realities. Goeb hates what Cook has done to Apple, but he is willfully blind to the blundering Trump’s glaring idiocy. Trump owns the US economy now. The last decade of momentum is slowing for the USA, just like it has for Apple. It was predicted. I called out Cook in 2013 and everyone resisted the idea that Cook could be undermining Apple. After all, Job’s app store continues to print money. Well Since Apple is a one trick pony now with almost all production in China, good luck. The supply chain genius makes Apple unable to respond to a world that is on the brink of a major downturn.

        Goeb pretends to want to see Apple succeed, but being a trumpanzee, his hypocrisy knows no bounds. Every other post he supports a vision of a stupid Trump wall to notionally keep out non-Americans and make his multicultural nation great and pure “again”. He will be silent when Trump’s base finally wakes up to see Trump has made their situation drastically worse. Too bad Goeb can’t see that Trump is accelerating America’s bankruptcy while doing absolutely nothing to make government more efficient or effective.

        1. “In other news, the orange MAGA idiot is presiding over one of the greatest self-inflicted market meltdowns in a century, with AAPL massively exposed.”

          The great one presided over the greatest stock market expansion and dozens of records in two years. You forgot to mention that. The Apple downturn has more to do with loss of confidence in Apple under Cook and declining iPhone sales projected in 2019. “Open your eyes!”

          “Apple is just one casualty in the reckless fiscal and economic policies being enacted by the least competent administration ever.” Your HATE for the president BLINDS you to reality.

          “Prediction: Goeb will respond to this message with partisan attacks rather than looking at the facts or discussing realities.”

          Facts or realities?!? ROTFL laughing! I have tried to tell you in the past you conflate your opinions and totally clueless of reality. Your posts are consistently irresponsible when it comes to political facts. Shall I list all the economic records under President Trump, hmmm?

          NO, won’t help you and I wasted enough time on MDN’s most partisan hack already…

    1. Why isnt the price going up then?

      The whole point of stock buy backs is to return capital to the share holders.

      The price is not going up.

      Instead it is plunging like Detroit property values.

      Pipeline’s stock buy backs have been a total abject failure.

      Pipeline is spending billions but giving shareholders nothing.

      Except very heavy losses.

      1. What you are missing is that a year ago $170 was the high and today $170 is the floor. That’s good progress over a year especially considering that the market as a whole got punished AND Apple changed fiscal reporting. There’s nothing to worry about when it comes to AAPL.

        1. It takes a brain to realize that…
          You are asking a person who is quite challenged in that department.

          He bought at the very high… expected overnight huge returns and niw he is blaming the world for being the world.

          Hey Vonzie .. You buy someting at the high.. your mind set should be looooooong term.. not months or a year….
          Have you noticed , long term holders are not bitching.

          But again it takes a brain to comprehended that.

            1. Sigh. Didn’t think I had to say $170 give or take ten percent. If we start falling below $150 that may be different but my point stands. There is a new floor now which one year ago was the high. Could the stock price dip below the floor for a while? Sure it could. Big picture is there’s nothing to worry about when it comes to AAPL. Unless you were stupid enough to buy above $200 hoping to make a quick buck. AAPL is a buy and hold stock. I’ve made A LOT of money doing that. Don’t get mad at me if you’re too dumb to analyze the market.

  3. Thanksgiving came too early… then endless Christmas music started playing… there were too many holiday shopping days and the Grinchalysts got furious, for they knew Apple would have its biggest holiday quarter ever.

  4. This manufacturer makes lenses for all phones not just iPhones. I think the whole market is down and apple is just fine. They always pin it on apple and we know that the cheap android devices use these lenses too and those sales are crashing.

  5. “MacDailyNews Take: This too shall pass and the lemmings, er… “analysts” will eventually turn the other way again.”

    Tell that to Dell.

    One you put all your eggs in one basket then when that turns down, your company takes a major hit. Pipeline is a disaster as a CEO who put all Apple’s eggs in one basket. While he played social justice warrior and making a car no one wants.

    It’s a simple change order to upgrade the specs as bare minimum .

    1. ECO’s do not come without significant R&D work. The change order is simple, getting there is work. I agree it’s work they should be doing with every Processor generation, not every 3 or 4.

  6. Just a thought…the iPhone Xr only has one camera. If it is selling well versus its dual-camera counterparts, then fewer cameras and lenses are required for the same number of units.

    There are generally a number of variables in an equation, and it does not pay to overlook them.

  7. Many seem to be ignoring the fact that all tech stocks are way down, and if one hasn’t noticed so is everything else. This is not only an Apple story, it is a trade war story.

    1. It is both. Many US manufacturers and exporters are massively exposed to any disruption in trade with Communist China. Some companies still have backup plans when China stops buying and selling, some don’t. Trump cozies up to Saudi Arabia and authoritarian regimes while doing nothing to expand trade into emerging nations or democratic friends.

      Apple is more exposed to the USA’s losing trade war than most since Supply Chain Genius Cook simply outsourced 99% of Apple production to Foxconn and has specifically attempted to make the iPhone and its derivative service sales the one source future Apple revenues.

      One wonders when Trump will turn his attacks to Taiwan and Samsung home nation South Korea in order to bolster popularity ratings with his base. Oh wait, Trump is a loyal Android Samsung user. How about that…

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