H-P (HPQ -1%), rather than Apple (AAPL -1.9%), might be to blame for Foxconn's hiring freeze,...
Feb 20 2013, 14:55 ET
H-P (HPQ -1%), rather than Apple (AAPL -1.9%), might be to blame for Foxconn's hiring freeze, thinks UBS' Steve Milunovich. Milunovich, among the first to report of a major drop in iPhone build rates for the March quarter (a report vindicated by Apple's FQ2 guidance) says his sources indicate nothing has changed. Meanwhile, Jefferies' Peter Misek (previous) claims FQ2 iPhone build orders have fallen to just 20M-25M, but believes 5S builds will start in March. CRUS -5.1%. SWKS -2.3%. TQNT -2.6%. BRCM -1.6%. OVTI -3.1%. Update: H-P states its PC ops don't rely on the Shenzhen, China facility that has seen a hiring freeze.