Apple has lost roughly $122 billion – more than the entire market value of Qualcomm – over the last six trading sessions. Apple stock is on its longest losing streak since January 2022. The stock, off another 1.47% today, has fallen about 4% over the past six down sessions.
UBS analyst David Vogt wrote earlier this week that demand for Pro-level iPhone models has been declining relative to last year, based on his analysis of wait times in various countries.
In the U.S., wait times for Pro phones have fallen to 20 days, whereas they were at 27 days at this point last year.
MacDailyNews Take: Meaningless, of course, without knowing how much supply Apple had last year and has this year, neither of which Vogt, or anyone outside of Apple’s C-suite, knows.
Amit Daryanani of Evercore ISI was a bit more upbeat based on his own look at Pro lead times, which “have been somewhat mixed,” in his view. He saw stable trends in the U.S., China and Japan relative to last week, while lead times in the U.K. and Germany fell by seven to nine days on average.
“The data points continue to point to stable demand for the iPhone 15 Pro and Pro Max models vs. a year ago across most geographies, while the lower-end models’ lead times saw big contractions this week,” he wrote.
MacDailyNews Take: As always, don’t get mad, get rich: Profit from the fomenting!
Be fearful when others are greedy and to be greedy only when others are fearful. – Warren Buffett
Treasured interns, please, please, please perform your scared duty and Tap That Keg™! Prost, everyone! 🍻🍻🍻
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As far as I remember, China closed some of the factories last year around this time due to COVID overreaction which affected Apples iPhone supply. So the comparison to last year’s waiting time may not be ideal.
Pretty much the whole market is down for the last week, not just Apple.
Apple needs to send time and money on innovation and the next big thing. Instead, they’re screwing around with making products “Carbon Neutral”. I don’t care if my Apple Watch band is Carbon Neutral. I want it to not stay wet on my wrist for an hour after a shower.
Who showers with their Apple Watch…do you sleep with it too?
But I agree more time and resources spent on innovation, not virtue signaling carbon crap…
“Who showers with their Apple Watch…”?
Did you ever get your hands dirty and need to wash them?
Apple, your software sucks. From iOS to iCloud to MacOS, it is an awful experience that keeps getting worse with every iteration. This used to very much be your strong suit, as in industry leading. I can only conclude, given the high quality of Apple hardware, that the software teams also suck. Really badly. I can’t recall a time since the Power Computing fiascos that I have enjoyed Apple products less than today, right now, with iOS 17 and Sonoma. It’s a disgrace.