Apple shares drop as iPhone's sluggish sales raise red flags
15 November, 2018, 08:23 | Author: Sara Gill
Earlier this week, Goldman Sachs cut its outlook for iPhone unit sales as a result of Lumentum's negative guidance, writing that, "While Apple may have already contemplated some weakness in its guidance, we feel the timing and magnitude of the [Lumentum] reduction suggests Apple is seeing incrementally worse demand data".
Apple shares fell to their lowest in more than three months on Monday as three suppliers issued warnings on results that pointed to weakness in iPhone sales.
Apple also stoked worries about iPhone sales earlier this month when it said that beginning this quarter, it will no longer break down unit sales for iPhones, iPads and Macs.
JPMorgan analysts said iPhone unit sales could decline on an annual basis in both 2018 and 2019 due to weak demand in emerging markets.
Kuo's forecast follows a report last week that described two of the company's largest suppliers, Foxconn and Pegatron, being told to halt plans for additional iPhone XR production lines.
Now, that's being backed up by new reports by analysts from JPMorgan and TF International Securities.
The poor performance of the XR is lowering the prediction for total iPhone shipments as well, which are expected to be down 15-20% in the first quarter of 2019 compared to this years Q1.
'We have reduced our iPhone XR shipment estimation from 100mn units to 70mn during the new product lifecycle (4Q18 - 3Q19),' Kuo said in a note to investors. And Wall Street analysts continue to pare their expectations for the company as Apple suppliers make the outlook for the iPhone even murkier.
While Apple bulls have cheered the firm's swift transition towards its higher-margin, recurring revenue software and services businesses, such as Apple Music and the App Store, the company still generates almost 60% of its top line from its iPhone segment. "The Apple investment paradigm is moving away from a focus on device sales toward a more predictable services-driven business".
In the fourth quarter, Apple sold 46.9 million iPhones, missing analyst expectations of 47.5 million iPhones, according to FactSet.
More recently, Apple launched a new version of its operating system, iOS 12, that supports an unprecedented 28 of the company's devices, including models that went on sale in 2013. "It doesn't matter a lot how many units there are in there in terms of the overall value of what's in the cart".
"Hon Hai's gross margin probably narrowed in 3Q as lower-margin, higher-priced products such as new iPhones constituted a greater share of its revenue mix", Simon Chan, an analyst at Bloomberg Intelligence, wrote in a Nov.5 note.
But Michel managed only 31 yards on 11 carries, and the Patriots didn't have a run longer than 9 yards. A massive crowd of Patriots fans flocked to Nashville for the game, and were quickly disappointed.
Turkey is seeking the extradition of 18 suspects who have been detained in Saudi Arabia, so they can be put on trial in Turkey. Khashoggi went missing on October 2 after entering the consulate to obtain documents for marriage procedures.
In Night Mode at max brightness, however, the Pixel's draw drops 63 percent to 92mA, while the iPhone stays the same. Files Go has been rebranded Files by Google , and the updated version of the app is starting to roll out now.
If so, it is a tenure that will have lasted only 10 games, averaging 13.4 points per game in a little over 29 minutes per night. It would not surprise me if we hear of some personal issues between Carmelo and the coaching staff as this story develops.
According to a report from Tom Pelissero of the NFL Network , the Saints fear that Bryant tore his Achilles today during practice. Bryant acknowledged a setback in a tweet Friday afternoon, writing, "This is the ultimate test".
This week the Chiefs welcomed back two defensive starters to the practice field, S Daniel Sorenson and All-Pro LB Justin Houston . The Cardinals will find themselves in the unusual position of being favored on Sunday when they host the Oakland Raiders.
As for Acosta, CNN sent him to Paris to cover Trump's visit to France to make the 100th anniversary of the end of World War I. Trump later called Acosta a "very unprofessional man" and does not think "he's a smart person, but he's got a loud voice".
Prince Harry got really worked up about it and that's when the Queen chose to step in and have a word with him. Meghan eventually ended up wearing a diamond and platinum tiara from the Queen's collection.
Amazon has blocked the sale of Google devices like the Chromecast that compete with its own smart speakers and streaming devices. Amazon, of course, stands to benefit from increased traffic and sales from people looking to buy Apple devices.
Venezuela Hoping to Raise Oil Output
"The odds of a cut next month seem fairly high and that it will likely be in the 1 million barrels per day range", it says. Worldwide benchmark Brent crude oil futures were at $69.39 per barrel, down 73 cents, or 1 percent, from their last close.
Duke Basketball: 3 keys for the Blue Devils against Army
Barrett all topping 20 points for the second game in a row, the Blue Devils dispatched pesky Army 94-72 at Cameron Indoor Stadium. Funk beat Jones off the dribble to reach the lane before passing the ball out to an open Blackwell, who made a 3-pointer.
Barca suffer first league home defeat in two years
Former Blaugrana star, Tello with his second assist of the night as Betis ensured they maintain their two goal lead in the game. It took five passes for the opener, the last a first-time drive from William Carvalho to free Junior down the left.
DNA evidence to be used as strawberry farm worker fronts court
Ms Trinh went to a pre-arranged meeting with police to provide a DNA sample two weeks ago, prior to her arrest, Mr Cridland said. Forty-nine of those brands were Queensland-based, with 186 of the total complaints about needles as the primary contaminant.
North Korea 'really angry' at U.S. as tensions rise
Radio Free Asia reported in late October North Korea is making worldwide roaming available to a select group of Chinese visitors. Ambassador to the United Nations Nikki Haley has also accused Russian Federation of cheating on U.N. sanctions on North Korea.