UPDATE: Rosenblatt Upgrades Apple (AAPL) to Buy, 'Our Survey Says Consumers Love It'
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- Analysts defend Apple (AAPL) as earnings miss drags shares lower
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In a note Thursday, BofA analyst Vivek Arya said sluggish iPhone demand has broad implications for chipmakers, although they are modest.
Bank of America analyst Wamsi Mohan downgraded shares of Apple (NASDAQ: AAPL) to Neutral from Buy.
The analyst believes the strong outperformance is once again at risk. Mohan reminds clients that Apple shares have outperformed significantly YTD due to the safe haven status.
Citi analyst on Bloomberg's report that Apple (NASDAQ: AAPL) is winding down its plans to increase iPhone 14 production: "Within our coverage universe, we view news as a) positive for Buy-rated TER as higher and more test intensive A16 4nm Pro/Pro... More
KeyBanc analyst Brandon Nispel has reflected on the Bloomberg report that Apple (NASDAQ: AAPL) is giving up on its plans to ramp up iPhone 14 production as demand falters.
While Nispel acknowledges the short-term negative impact of this news on Apple stock, he believes the pullback offers an attractive buying opportunity. The analyst thinks the reporting will have no effect on consensus expectations.
Our proprietary KFL data suggests Hardware revenue for AAPL continues to be strong. We have also seen data that shows, despite some weakness in smartphone shipments in... More
Investing.com U.S. stocks were higher after the close on Wednesday, as gains in the Oil&Gas, Consumer Services and Basic Materials sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average added 1.88%, while the S&P 500 index added 1.97%, and the NASDAQ Composite index added 2.05%.
Stocks finally found a bid today as yields reversed course after their massive run-up. This had the rumor mill working in overdrive. Below we highlight a few rumors of interest being passed around trading desks today:
1. Apple (NASDAQ:... More
Active options: AAPL TSLA AMZN META BABA NVDA AMD NFLX MSFT... More
By Liz Moyer
Investing.com -- U.S. stocks rose after the Bank of England stepped in to stabilize the British pound. Here are the midday movers for Sept. 28:
Biogen Inc (NASDAQ: BIIB) shares jumped 37% after... More
Apple (NASDAQ: AAPL) analyst Ming-Chi Kuo of TF International Securities said his latest survey indicates that Apple will likely build the new Apple Car project team before the end of 2022.... More
Apple (NASDAQ: AAPL) shares fell Wednesday after reports that the technology giant was ditching its plans to boost iPhone production after demand falters.
However, according to TF International Securities Apple analyst Ming-Chi Kuo, the reports do not seem to be accurate.
"Rumored Apple ditching iPhone... More
Apple (AAPL) $310M iPhone Throttling Settlement Nixed by Appeals Court - Bloomberg... More
TF International Apple (NASDAQ: AAPL) analyst Ming-Chi Kuo weighed in on reports the company is ditching its production increase plans, saying the rumors "sounds a little bit weird to me."
"As I surveyed before, Apple had production switch plans from iPhone 14/14 Plus... More
Citi Says Reports of Apple (AAPL) Informing Suppliers to Pullback on iPhone Production is Positive for Teradyne (TER), Negative for Qorvo (QRVO) and Skyworks (SWKS)September 28, 2022 12:43 PM EDT
Analyst Atif Malik comments... More
Evercore ISI on Apple (AAPL): 'remains one of the few companies that is positioned to beat/raise through H2:22'September 28, 2022 10:45 AM EDT
Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $190.00 price target on Apple (NASDAQ: AAPL)
The analyst comments " Multiple news outlets, including Bloomberg, have reported that AAPL has told suppliers to curtail efforts to increase production of the iPhone 14 by as many as 6M units. The implication is now that AAPL will aim to produce ~90M units of the iPhone 14... More
Apple (NASDAQ: AAPL) 30-day option implied volatility is at 45; compared to its 52-week range of 20 to 44 as shares sell off 4%.... More
Active options: AAPL TSLA AMZN NFLX META AMD NVDA MSFT GOOGL... More
Wedbush analyst on Apple (NASDAQ: AAPL): "Our view is the headline of "not increasing production" (~6 million units) overshadows the underlying story for iPhone 14 Pro demand that is currently playing out in the field. iPhone Pro demand remains robust based on all... More
Stocks in focus in premarket trade on Wednesday, September 28th. Please refresh for updates.
By Peter Nurse
Investing.com -- U.S. stocks are seen opening largely unchanged Wednesday, remaining near the lows this year as investors price in further interest rate hikes and a deeper earnings slowdown.
At 07:00 ET (11:00 GMT), the Dow Futures contract was up 15 points, or 0.1%, S&P 500 Futures traded 4 points, or 0.1% lower, and Nasdaq 100 Futures dropped 65 points, or 0.6%.
The blue-chip Dow Jones Industrial Average ended 125 points, or 0.4%, lower, closing lower for the sixth consecutive day, while the broad-based S&P 500 fell 0.2%, closing at its new low this year. The tech-heavy Nasdaq Composite managed to gain... More
By Medha Singh and Nivedita Balu
(Reuters) -Apple Inc shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries.
Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand.... More
Apple (NASDAQ: AAPL) suppliers fell in pre-open trading Wednesday following a Bloomberg report that the tech giant will likely ditch its iPhone production boost due to demand woes.Micron Technology (NASDAQ: MU) -0.4%Qualcomm (NASDAQ: QCOM) -1.4%Qorvo (NASDAQ: QRVO) -2.3%Skyworks Solutions (NASDAQ: SWKS) -2.1%Teradyne (NASDAQ: TER) -1.8%
Apple (NASDAQ: AAPL) shares are down about 4% after Bloomberg reported the tech giant is backing off plans to ramp up iPhone 14 production this year.
The change is a result of slowing demand as the Cupertino-based giant anticipated it would witness a surge in orders. Apple reportedly informed its suppliers to slow down efforts to increase production by 6 million units in the second half of this... More
By Noel Randewich and Shreyashi Sanyal
(Reuters) - Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields, while Apple dropped on concerns about demand for iPhones.
The S&P 500 recorded its first gain in seven sessions after closing on Tuesday at its lowest since late 2020.
Interest rate-sensitive megacaps Microsoft, Amazon and Meta Platforms rallied as the yield on 10-year Treasury notes fell over 0.26 percentage point in its biggest one-day drop since 2009.
Pushing yields lower on Treasuries with maturities six months and longer, the Bank of England said it... More
Active options: TSLA AAPL AMZN NVDA AMD META GOOGL MSFT F... More
Active options: TSLA AAPL PBR AMZN AMD NVDA META BAC GOOGL... More