What makes WF think it knows about Apple's inter-workigs to downgrade Apple on the up coming 6S and its profit margins. Does WF set profit margins. Just more speculating BS analyst at work screwing around with bogus information.
Mr Um is just using quarterly margin facts to compare the S iPhone cycle vs a plain 6. The trouble is that he assumes that #1 such margin movements will continue into the future and #2 the larger sized screen would cannibalize the smaller screen, and #3 carriers new marketing without a service contract will effect sales, and #4 no other products would be lunched at the same time, such as the iPad Pro.
Relax, It's just the old bash and buy like last April. The anelists were calling for a pull back to 330. (That's when the put their buy orders in at 390 ) and sold by Dec. in the 565 range. IT'S JUST A RERUN OF THE SAME OLD FUND SCAMS...
You do not get it, do you? WF analyst knows that no matter what he says, there is no penalties for him. He knows that AAPL management will not defend the story or the price of the stock. This stock has been up an average of 1 day a week in the last 4 weeks and it does not take a genius to realize the products are flying off the shelves. The stock had a PE of 5 (Ex Cash) in July and there were analysts downgrading it even at that price. Until the day comes when Tim Cook or the AAPL management team says we have new products coming out and the product is .... and we will do ... with our ridiculous large cash position, the stock will do nothing. When they showed iPhone 5s, the stock tanked 10% the flowing 2 days and several analysts downgraded it. It took tweets from Carl Icahn to bring out of the basement, even though 5s was an awesome product.