Apple Enters Bear Market - Down Over $200 Billion From Record Highs

Zero Hedge | 11/14/2018 | Staff
fufu-fefefufu-fefe (Posted by) Level 4
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Having broken below its 200-day moving-average and suffering from the herd-like shift in trend of analyst downgrades, the 'no-brainer' stock of all 'no-brainer' stocks has plunged over 20% from its record highs and officially entered a bear market...

In November, Apple reported underwhelming iPhone sales, forecast that its holiday quarter will be on the low end of expectations., and also said that it would stop reporting unit sales for iPhones, iPads, and Macs.

Week - Handful - Apple - Suppliers - Outlooks

Earlier this week, a handful of Apple suppliers cut their outlooks, suggesting weaker smartphone demand ahead; and that was followed by analyst downgrades.

Then, earlier today, hot on the heels of a downgrade by Goldman, Guggenheim analyst Mark Cihra said that Apple's waning iPhone demand mean the big jump in ASPs won't be enough, adding that iPhone supplier guidance cuts suggest a 5% drop in 2019 iPhone unit sales, which is greater than the price increase, resulting in a revenue decline, something Goldman also concluded yesterday.

Risk

"We see growing risk of even...
(Excerpt) Read more at: Zero Hedge
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