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A downbeat note from Macquarie's Daniel Chang could be contributing to today's Apple (AAPL...
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Thursday, December 13, 2012, 2:02 PM ETA downbeat note from Macquarie's Daniel Chang could be contributing to today's Apple (AAPL -2.1%) selloff. Chang, who covers Taiwanese names and is downgrading Foxconn (HNHAF.PK) to Neutral, has lowered his FQ1 (Dec. quarter) iPhone sales forecast to 44M from 48M, and his FQ2 forecast to 26M from 28M. Gene Munster, however, is his usual upbeat self: he notes Piper's latest survey of potential U.S. smartphone buyers found 53.3% thinking of getting an iPhone 5; an October survey reported 54.9%.
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We had all this nonsense last year. Apple is a winner through and through!
Look beyond products. The people at Apple can absorb all the negative press, they can hear their millions of fans clamoring for them to succeed. And like it or not. The debate over technological creativity in the consumer space centers around Apple.
All of these forces, create a feedback loop unlikely any the tech world has ever seen that will force Apple to perform at a very high level.
How about this...the decline from over $700 is the contributing factor to today's decline. Today's decline is the proverbial skid mark in comparison to the 172 decline since the September 19th peak. At this point, Chang is pointing out the obvious more than anything else, making the Apple bulls more astute than the analysts.
Regards.