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  • genexcess genexcess Dec 13, 2012 4:52 PM Flag

    Foxconn Downgraded To "Sell" On Weaker Apple Sales: Apple Est. Lowered

    search for topic:
    Are Apple’s Worries Just Beginning?

    Sentiment: Strong Buy

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    • Foxconn International Holdings should not be confused with the better-known Foxconn Technology Group that produces Apple's products. Foxconn International Holdings produces a wide range of devices, but has not publicly confirmed that it has any Apple contracts. The company was once extremely successful, thanks to its strong partnership with Nokia. However, as Nokia's sales have fallen, so too have the fortunes of Foxconn International Holdings.
      Foxconn International Holdings, which also produces some devices for Motorola Mobility and China-based handset maker Huawei, has watched its share price slip 18.5 percent in the last year. Its revenue meanwhile, is down over 30 percent, and profits have been nearly cut in half.

      Sentiment: Strong Buy

    • testy

      Sentiment: Strong Buy

    • lowers iPhone est. to 44m units from 48m cuts predictions for following three months to 26 million units from 28 million units. note the deceleration in iPhone units sold the further out the projection. this dependable trend is now gaining traction among analysts.

      Sentiment: Strong Buy

    • note the deceleration in iPhone units sold the further out the projection. this dependable trend is now gaining traction among analysts.

      Sentiment: Strong Buy

    • Chang lowered his iPhone sales estimate for the January-March quarter to 44 million units from 48 million and cut his predictions for the following three months to $26 million from 28 million units. According to the analyst, Apple’s “less innovative and differentiated functionality” will contribute to the slowing of the iPhone market share growth.

      Sentiment: Strong Buy

    • An analysis of Foxconn numbers has led Macquarie’s Daniel Chang to predict that iPhone demand may be weaker than expected heading into Apple’s (NASDAQ:AAPL) second and third fiscal quarters, or the first two quarters of the new calendar year.

      What Does Chang’s Status Report Say?

      Chang lowered his iPhone sales estimate for the January-March quarter to 44 million units from 48 million and cut his predictions for the following three months to $26 million from 28 million units.
      According to the analyst, Apple’s “less innovative and differentiated functionality” will contribute to the slowing of the iPhone market share growth.
      .
      In a note written in a contrasting mood for Apple earlier on Thursday, Piper Jaffray analyst Gene Munster said demand for the new smartphone had become stronger in the three months since its September launch. Munster, who has an Overweight rating on Apple shares and a $900 price target, predicted sales of 45 million iPhones this quarter, but did not issue a foreword-looking statement on Thursday.

      What Does it Mean for the Stock?

      Chang cut his rating on Foxconn’s holding company, Hon Hai Precision Industry, from Outperform to Neutral.

      Apple’s shares have gone downhill in the months since the launch of iPhone 5. They reached a closing peak of $702.10 on September 19, but were down more than 23 percent from then until close of business on Wednesday, when they ended at $539.

      Sentiment: Strong Buy

    • Here is the quote from the article you mention
      "Chang cut his rating on Foxconn’s holding company, Hon Hai Precision Industry, from Outperform to Neutral."

    • lowers iPhone estimates for jan-march quarter to 44m units from 48m cuts predictions for following three months to 26 million units from 28 million units due to non innovative and differentiated functionality and slowing market share growth. note the deceleration in iPhone units sold the further out the projection this dependable trend is now gaining traction among analysts.

      Sentiment: Strong Buy

    • Chang lowers iPhone estimates for jan-march quarter to 44m units from 48m cuts predictions for following three months to 26 million units from 28 million units due to non innovative and differentiated functionality and slowing market share growth. note the deceleration in iPhone units sold the further out the projection this dependable trend is now gaining traction among analysts.

      Sentiment: Strong Buy

 
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