Apple shares are down about 3% following disappointing earnings from Dialog Semiconductor (DLGNF).
Apple is Dialog's largest customer, so when Dialog reports disappointing results investors are making the connection that demand for Apple products could be weaker than expected, Cramer said.
Dialog's revenue has increased 18% in Q3, so if all revenue is generated by AAPL the iPhone sales number should also have increased about 18% this Q. Not bad at all :)
Today Deutsche Bank downgraded the stock with sell recomendation and a target price at 3, which caused a huge reaction. 5 days ago Roth reiterated their buy recommendation with a target price at 20. Yes, 20 !!! The only conlusion must be that the analysts either know anything at all, or are using very, very diferent valuation metricx. :)
I'm not surprised. The Wall Street Journal and CNBC compete against each other to spread the most negative AAPL story each day.