Warning Signs of A Potential Sharp Correction To Come Next Week Read
October 16th, 2012
EARNING SHOCK: Apple Analysts Are Cutting Estimates For Next Week’s Earnings
Here’s one reason Apple’s stock has been tanking lately.
Analysts are cutting back their estimates for fiscal fourth quarter (calendar third quarter) which Apple reports next week.
Philip Elmer DeWitt has a round up of three recent notes. Essentially, all three blame iPhone 5 supply issues for a worse than expected quarter.
The iPhone 5 has been sold out around the world since day one. It could be because Apple is struggling to make the phones, or it could be because it has been very aggressively rolling out the new phone around the world. Whatever the reason may be, analysts think Apple didn’t sell that many iPhone 5s in the last week of September.
One other reason analysts are cautious is the slowdown of PC sales, which they think will affect Mac sales.
Greek Troika Talks End Abruptly Following “Complete Disagreement”
What the Spanish rumor of a bailout lite (as a reminder, the full blown Spanish bailout has already been largely priced in, and today’s action is a very confused market pricing in a second, bailout-lite) giveth, Greece taketh away.
From ANA via From Bloomberg: