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