Supplier cuts its performance outlook, Apple stock price plunged 5%, once the mobile phone king wants…


Earlier Monday, Citi analyst Atif Malik downgraded Apple’s semiconductor component supplier Skyworks Solutions’ rating, which fell from a buy to a negative, slashing target prices by nearly 27% to $85. Citigroup said that the downgrade of SkyworksSolutions is partly due to the weaker demand for smartphones in the Chinese market. The pre-ordered iPhoneXR sales in October are disappointing, which may affect SkyworksSolutions’ product sales growth next year. Institutions: The iPhone is facing a potential risk of falling demand in China. Longbow Research, a research institution, also mentioned that the iPhone may not perform well in the Chinese market. It believes that the iPhone faces a potential risk of falling demand in China. “The iPhone has begun to show some risk signs, iPhone orders have slowed down year-on-year, and Baidu (US stocks BIDU) iPhone search trend has also turned red,” LongbowResearch analyst Shawn Harrison wrote in the report that Baidu’s iPhone search volume “is in The straight down in October showed the potential risk of shrinking Chinese demand.” Related readings were affected by multiple negative factors, Apple’s share price plummeted 5% market value evaporated 48.9 billion US dollars According to foreign media reports, by supplier Lumentum lowered second-quarter earnings expectations, analysts downgrade iPhoneXR shipment expectations, investment bank said iPhone in the Chinese market The demand for demand has multiple negative factors such as downside risks. Apple shares fell 5.04% on the Nasdaq Stock Market regular trading on Monday, and the market value evaporated by 48.9 billion US dollars. Affected by multiple negative factors, Apple’s stock price fell 5% market value evaporated 48.9 billion US dollars local time on the 12th Apple stock price chart Apple accessories supplier Lumentum cut earnings and income outlook on Monday, saying that one of its largest customers asked the company to cut off The second quarter of December “substantially reduced shipments.” Although Lumentum did not indicate which company the customer is, it listed Apple as the largest customer in its annual 2018 financial report. The company’s 30% of its total revenue comes from Apple, followed by Huawei and Ciena, both of which are Contributed 11% of revenue to Lumentum. Guo Ming, a well-known Apple analyst and TF International Securities, released a research report on Monday, which lowered the shipment forecast of Apple’s iPhoneXR smartphone by 30 million units. Guo Minghao pointed out that the reasons for lowering the iPhoneXR shipment forecast include “the trade problem will have a negative impact on consumer confidence”. He added that consumers may prefer more expensive models such as iPhoneXS and iPhoneXS, which have better camera features. Finally, he also pointed out that Huawei’s new Mate20 series of mobile phones will make the iPhoneXR ushered in more competitive pressure. “We have already lowered Apple’s iPhoneXR shipments in the new product life cycle (4th quarter of 2018 to third quarter of 2019) from 100 million units to 70 million units,” said Guo Mingxi. In contrast, Guo Minghao released a similar report in October, and it is expected that iPhoneXR will be a big sale for Apple. Guo Minghao still expects that the total shipment of Apple iPhone in the fourth quarter will be between 75 million and 80 million. Prior to Guo Mingxi, JPMorgan Chase analyst Samik Chatterjee lowered his target price from $270 to $266 in his research report. This is his second time this month to cut Apple’s target price. However, the analyst still gives Apple an “overweight” rating. Chatterjee said he has lowered Apple’s revenue expectations due to factors such as the weakening macroeconomic environment in emerging markets such as China and the continued strength of the US dollar. A weaker macroeconomic environment will lead to weaker consumer confidence, while a stronger dollar will make the iPhone’s selling price outside the US more expensive. Chatterjee also lowered the expected sales of the iPhone, reducing the expected sales of the iPhone in 2020 from 216 million to 214 million, and reducing the expected sales of the iPhone in 2019 from 218 million to 208 million. Moreover, he also cut Apple’s expected earnings per share in FY 2019 and FY 2010 by 10 cents. On November 2, due to the continued strength of the US dollar, Chatterjee lowered Apple’s target price from $272 to $270. In addition, Wall Street investment bank LongbowResearch released a research report on Monday, saying that the iPhone’s demand in the Chinese market is down risk. Last week, it was reported that Apple had told Foxconn and other foundries to suspend plans to increase the iPhoneXR production line. The report quoted people familiar with the matter as saying that Foxconn initially prepared nearly 60 production lines to produce the iPhoneXR, but recently only about 45 production lines were activated. This means that Foxconn will produce about 100,000 iPhoneXRs per day, which is 20% to 25% lower than the initial optimistic expectations. Overall, orders for iPhoneXR and iPhoneXSMax have been cut by 20% to 30%. At the same time, Apple increased orders for the previous generation of iPhone8 and iPhone8Plus by 20% to 25%. LongbowResearch analyst Shawn M. Harrison said that increasing the order volume of iPhone8 and iPhone8Plus can only make up for the downturn in the iPhoneXR market. In addition, Harrison also said in the report that in October this year, on the search engine Baidu, the search volume of consumers on the “iPhone” dropped significantly. This means that there is a potential risk of a potential decline in demand for the iPhone in the Chinese market. Nonetheless, Harrison believes that Apple’s diluted earnings per share for the 2019 fiscal year will continue to grow with higher average selling price (ASP), strong service business, smartwatch and AirPods headset business, and positive capital feedback. Harrison continues to maintain a “neutral” rating on Apple stock. Affected by the above multiple negative factors, Apple’s stock price fell 10.30 US dollars on Monday, the stock fell below the 200 US dollar mark, to close at 194.17 US dollars. Based on Monday’s closing price, Apple’s market value is $921.4 billion. In the past 52 weeks, Apple’s lowest share price was $150.24, and the highest share price was $233.47. Duty Officer: Li Huan