“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
SEE ALSO:
Trump administration blacklists Huawei putting Apple at risk of retaliation from China – May 16, 2019
The media is lying to you about President Trump’s China tariffs – May 15, 2019
Analyst: Apple investors ‘overreacting’ to U.S.-China trade war and Supreme Court App Store ruling – May 14, 2019
Apple, Deere & Co, retail in focus as U.S. releases fresh tariff list – May 14, 2019
Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019
Apple shares drop 7% this week on fears China trade turmoil threatens iPhone sales – May 10, 2019
Apple’s iOS 13 rumored to drop support for iPhone 6, iPhone SE and iPhone 5s – May 10, 2019
Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019
Apple temporarily escapes new tariffs as U.S.-China trade war escalates – May 10, 2019
Dow futures fall after President Trump tweets ‘absolutely no need to rush’ on China trade deal – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019
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.