Apple Earnings In Jeopardy: Goldman Sees “Unheard” Of Collapse In Chinese Smartphone Demand
by Tyler Durden
ZeroHedge.com
Mon, 10/15/2018
It’s not just auto sales that are tumbling in China: according to Goldman there are “multiple signs” of rapidly slowing consumer demand in China across all products.
While this would have a dramatic impact on China’s economy, which as we noted recently has been manipulating official data to represent solid industrial profit growth even as individual companies have indicted that profits have been shrinking sharply in recent months…
.. Goldman is especially concerned how this could adversely affect Apple demand in China this Fall.
Specifically, Goldman references the substantial weakness in Chinese macro indicators, with the PMI dropping to 50.8 in September from 51.3 in August and 51.5 in June, auto sales deteriorated to -12% Y/Y in September vs. -4% Y/Y in August and July, “and early Golden week indications are lackluster.”
The Rest…HERE
