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Apple supplier Foxconn plans $2.9 billion in cost cuts

mercredi 21 novembre 2018, 18:00 , par Mac Daily News
“Foxconn is reportedly planning to cut operational costs by 20 billion yuan ($2.9 billion) following a ‘very difficult and competitive year,'” Charlie Osborne reports for ZDNet. “According to an internal memo seen by Bloomberg, roughly 10 percent of non-technical staff will be eliminated from the payroll in 2019.”
“Foxconn is Apple’s largest and most well-known assembler and iPhone manufacturer,” Osborne reports. “As Foxconn’s memo specifically names the iPhone unit as an area which requires a reduction in expenses over the next year, it is possible that the reported slow-down in demand — potentially due to the stiff price tags of high-end models and the competitive mobile device landscape — has also cut into Foxconn’s predictions of future profit.”
Read more in the full article here.
MacDailyNews Take: Once again, a reminder:
Apple will only bring in revenue of some $30 billion per month for the next three months. That’s a billion per day for 90 some odd days. What a financial horror!
The so-called “analysts” scream, “SELL, SELL, SELL!!!” (So they can buy low). Well, so can Apple as they execute their massive buyback program. And so can smart investors. — MacDailyNews, November 19, 2018
AAPL is like a buoy. Quick, it’s back on the surface! You there, analyst, and you, too, swim down and tug on the chain! Drag it under… lower, lower… Good! Now, quick, everybody jump on, and we’ll take a ride back up to the top again! — MacDailyNews, January 9, 2012

At the most basic level, it’s extremely simple: Pump, then dump. Foment, then buy. Rinse, lather, repeat as the SEC sleeps. — MacDailyNews, April 26, 2012

Even if a particular data point were factual it would be impossible to accurately interpret the data point as to what it meant for our overall business… There is just an inordinate[ly] long list of things that would make any single data point not a great proxy for what’s going on. Apple CEO Tim Cook, January 23, 2013

If there actually is an issue with iPhone XR sales — and the jury is still way out on that one — that could be a good thing for Apple as it could mean that when spending over $750 on an iPhone, more people than ever say to themselves, “Well, I might as well get the very best one available,” and buy the iPhone Xs Max over iPhone XR. This would positively impact Apple’s iPhone ASP, of course. — MacDailyNews, November 9, 2018
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Apple pulls down U.S. futures – January 14, 2013
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macdailynews.com/2018/11/21/apple-supplier-foxconn-plans-2-9-billion-in-cost-cuts/
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