Nomura Instinet cuts estimates on U.S.-China trade skirmish

“Nomura Instinet lowered its price target on Apple shares to $175 from $180 on Friday, citing a coming ‘trade strain’ on the company’s earnings,” Michael Sheetz reports for CNBC.

“‘The renewal of China trade tensions are a likely near-term negative for Apple,’ Nomura analyst Jeffrey Kvaal said in a note to investors” Sheetz reports. “‘A 25% tariff on device imports a pain any way they slice it,’ [Kvaal said].”

Sheetz reports, “Nomura Instinet reduced its estimate for Apple’s 2019 earnings to $11.39 a share, down from $11.50 a share.”

Read more in the full article here.

MacDailyNews Take: Ooh, 11 whole cents sliced off based on a worst case scenario. M’kay.

People tend to fear the worst. It almost never happens.MacDailyNews, May 14, 2019

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1 Comment

  1. MDN intentionally bastardizes another headline for its core mission of rightward spin. The actual article is titled

    The trade war will be a ‘pain’ for Apple’s earnings, Nomura Instinet says, cutting estimates

    A responsible media outlet wouldn’t rearrange the object to imply that tariffs impacts are going to be smaller. This was definitely intentional, it’s a typical game MDN plays.

    In other words, people who assessed the tariffs have concluded that Apple will be hurt badly. Not to mention Apple investors and customers. Exactly the opposite of MDN’s hacked headline.

    Not long ago MDN had the gall to claim the media (singular to Trumptards) is lying to them. In reality MDN just changed a direct quote. Facking hypocrites. Leave the goddamned headlines untouched if you have any shred of respectability.

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