Wednesday, February 20, 8:05 AM ET
The Foxconn recruiting freeze hitting Apple (AAPL) in the premarket is not related to a slowdown in iPhone 5 production, reports Bloomberg. Instead it's more about adjustments having to do with the Chinese New Year. Off about 2% earlier, AAPL now -0.8%.
I couldn't agree more. I just emailed Apple to complain about their PR dept ... all of those "no response from Apple spokesperson" lines kills the stock. I sent them this quote from the earnings transcript --- every spokesperson should be manned with it: TC: "But Bill, let me make one additional point on this, ...." stress that even if a particular data point were factual it would be impossible to accurately interpret the data point as to what it meant for our overall business because the supply chain is very complex and we obviously have multiple sources for things, yields might vary, supply performance can vary. The beginning inventory positions can vary, I mean there is just an inordinate long list of things that would make any single data point not a great proxy for what’s going on.
CNBC will slant and misrepresent the news so that their perpetually negative spin on Apple can continue to pervade our airwaves and manipulate the masses. The fact that the freeze/production slowdown at Foxconn has nothing to do with iPhone demand will be mentioned in passing, nothing more. The headline itself will continue to be promoted by the network as yet another negative bellweather for the company. In fact, the initial media release itself reeks of bad reporting and media manipulation as the article states that one of the 3 reasons the production slowdown may be occurring is poorer than anticipated iPhone demand and that Apple is "screwed". This article will provide terrific ammunition for CNBC's continuing negative onslaught on Apple...they will not let the truth dampen their version of the story!