Sunday, 24 March, 2019


Apple cuts 1Q production for new iPhones by 10 pct

People look at iPhones at the World Trade Center Apple Store during a Black Friday sales event in Manhattan New York City US Apple cuts 1Q production for new iPhones by 10 pct
Patty Aguilar | 11 January, 2019, 14:02

In late December, Citi Research revised down its first-quarter production forecasts for Apple Inc's latest iPhone models, as projection for the priciest iPhone XS Max was cut by 48% due to weak demand.

In other Apple news, insider Chris Kondo sold 3,408 shares of the company's stock in a transaction dated Monday, November 19th.

Investors knocked about $75 billion from Apple's market value last Thursday. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Summit Trail Advisors LLC grew its position in shares of Apple by 17,669.4% during the first quarter. Beaton Management Co. Inc. now owns 6,842 shares of the iPhone maker's stock worth $1,545,000 after purchasing an additional 120 shares in the last quarter. The company had revenue of $62.90 billion during the quarter, compared to analyst estimates of $61.55 billion. Selective Wealth Management acquired a new position in shares of Apple in the third quarter valued at $194,000. During the same quarter in the prior year, the business earned $2.07 earnings per share. Institutional investors own 57.06% of the company's stock.

Reuters reported last month that Apple will begin assembling its top-end iPhones in India this year through the local unit of Foxconn, citing a person familiar with the matter.

According to CNN Money, the 33 analysts, offering 12-month forecasts regarding Apple Inc's stock price, have a median target of $215.00, with a high estimate of $300.00 and a low estimate of $165.00. Legacy Capital Partners Inc. increased its stake in Apple by 0.3% during the 4th quarter. It also sells various related software, services, accessories, and third-party digital content and applications.

As if this didn't make the new year troubling enough for Apple, the company also had to remove the iPhone 7 and the iPhone 8 out of German stores after Qualcomm posted $1.5B (€1.34B) in security bonds to enforce a court decision which imposed a preliminary injunction on the two phone models. "The big health-care players want to move to platforms, they want it to be a horizontal model, just like we've seen successfully in retailing and in fintech and others".

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