Cramer’s Exec Cut: People are at the heart of digitization

Cramer’s Exec Cut: People are at the heart of digitization11 Hours AgoJim Cramer hears from top tech executives on how connected living and the shift to the cloud are transforming customer relationships.


Cramer’s Exec Cut: People are at the heart of digitization11 Hours AgoJim Cramer hears from top tech executives on how connected living and the shift to the cloud are transforming customer relationships.
Cramer’s Exec Cut: People are at the heart of digitization Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16
Keywords: news, cnbc, companies, cramers, relationships, shift, hears, tech, exec, living, executives, digitization, transforming, hours, heart, cut


Cramer’s Exec Cut: People are at the heart of digitization

Cramer’s Exec Cut: People are at the heart of digitization

11 Hours Ago

Jim Cramer hears from top tech executives on how connected living and the shift to the cloud are transforming customer relationships.


Company: cnbc, Activity: cnbc, Date: 2018-11-16
Keywords: news, cnbc, companies, cramers, relationships, shift, hears, tech, exec, living, executives, digitization, transforming, hours, heart, cut


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Rumors of weak iPhone demand heat up as at least four Apple suppliers cut revenue forecasts

At least four Apple suppliers have cut their revenue forecasts this week, fueling speculation that Apple is scaling back manufacturing of the iPhone. Reports that its major suppliers are seeing reduced orders for electrical components could shed some light on expected sales. It’s not the first time Apple has faced supply chain concerns — and none of the reports explicitly name Apple — but the number of reports is notable. Wall Street has certainly taken note, with several firms downgrading the s


At least four Apple suppliers have cut their revenue forecasts this week, fueling speculation that Apple is scaling back manufacturing of the iPhone. Reports that its major suppliers are seeing reduced orders for electrical components could shed some light on expected sales. It’s not the first time Apple has faced supply chain concerns — and none of the reports explicitly name Apple — but the number of reports is notable. Wall Street has certainly taken note, with several firms downgrading the s
Rumors of weak iPhone demand heat up as at least four Apple suppliers cut revenue forecasts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: sara salinas, getty images
Keywords: news, cnbc, companies, heat, iphone, week, stock, demand, reports, forecasts, unit, apple, rumors, wall, revenue, suppliers, cut, weak


Rumors of weak iPhone demand heat up as at least four Apple suppliers cut revenue forecasts

At least four Apple suppliers have cut their revenue forecasts this week, fueling speculation that Apple is scaling back manufacturing of the iPhone.

Apple said earlier this month it would stop reporting individual unit sales and revenue figures for the iPhone, leading some to speculate that the company has something to hide. Reports that its major suppliers are seeing reduced orders for electrical components could shed some light on expected sales.

It’s not the first time Apple has faced supply chain concerns — and none of the reports explicitly name Apple — but the number of reports is notable. Wall Street has certainly taken note, with several firms downgrading the stock this week and Apple’s stock falling into bear market territory.

Here are the Apple suppliers that have cut their forecasts so far:


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: sara salinas, getty images
Keywords: news, cnbc, companies, heat, iphone, week, stock, demand, reports, forecasts, unit, apple, rumors, wall, revenue, suppliers, cut, weak


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Apple downgraded, more iPhone estimates cut as Street starts to turn on the stock

Also on Wednesday, UBS cut its Apple iPhone sales estimates and stock price target, citing supplier warnings and overseas sales pressures because of the rising dollar. Guggenheim’s Robert Cihra cut Apple to neutral from buy and removed his prior $245 price target. UBS cut its 12-month price target on Apple to $225 from $240 and lowered its iPhone unit sales estimates for the current quarter to 73.5 million from 75 million. That’s raised concerns iPhone sales are weakening. On Tuesday, Goldman Sa


Also on Wednesday, UBS cut its Apple iPhone sales estimates and stock price target, citing supplier warnings and overseas sales pressures because of the rising dollar. Guggenheim’s Robert Cihra cut Apple to neutral from buy and removed his prior $245 price target. UBS cut its 12-month price target on Apple to $225 from $240 and lowered its iPhone unit sales estimates for the current quarter to 73.5 million from 75 million. That’s raised concerns iPhone sales are weakening. On Tuesday, Goldman Sa
Apple downgraded, more iPhone estimates cut as Street starts to turn on the stock Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: john melloy, shannon stapleton
Keywords: news, cnbc, companies, note, sales, price, apple, stock, turn, estimates, downgraded, target, given, starts, iphone, street, cut


Apple downgraded, more iPhone estimates cut as Street starts to turn on the stock

Apple shares were downgraded on Wednesday by a Guggenheim Partners analyst who predicted a 5 percent decline in iPhone units sold in 2019. The firm also said rising prices would not be enough to offset that decline in sales.

Also on Wednesday, UBS cut its Apple iPhone sales estimates and stock price target, citing supplier warnings and overseas sales pressures because of the rising dollar.

Guggenheim’s Robert Cihra cut Apple to neutral from buy and removed his prior $245 price target. “Unlike last year [we] do not see ASP (average selling price) increases providing enough offset, with our forecast that blended iPhone ASPs increase only +3%Y/Y, leaving iPhone revenues -2%Y/Y,” Cihra wrote.

“Moreover, we see growing risk of even softer iPhone unit demand, with downside in China, India and other emerging markets, where Apple may need to start considering lower price points,” the analyst added.

UBS cut its 12-month price target on Apple to $225 from $240 and lowered its iPhone unit sales estimates for the current quarter to 73.5 million from 75 million.

Apple shares dropped by 5 percent on Monday alone after one of its suppliers, Lumentum (LITE), said one of its largest customers reduced shipments. The company makes 3D sensing lasers used in Apple’s FaceID technology. That’s raised concerns iPhone sales are weakening.

“We note these cuts are significantly less than the LITE news would imply,” said Tim Arcuri of UBS in his note. “Ultimately, we believe AAPL continues to face FX headwinds given ongoing [U.S. dollar] appreciation against key global currencies. In China, given [the dollar-yuan trade], the supply chain suggests many consumers are opting for high-end models w/similar specs from local competitors rather than the XR.”

On Tuesday, Goldman Sachs cut its iPhone estimates and lowered its price target on the stock to $209 from $222 following the Lumentum move.

“We are concerned that end demand for new iPhone models is deteriorating,” Goldman said in the note. “We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning.”

Apple began the month by reporting iPhone shipments that missed Wall Street expectations for the quarter. The company also said it would no longer break out sales figures for iPhone units.

The stock, which is down 12 percent this month, fell on Wednesday as most of the rest of technology sector traded positively.

— With reporting by Michael Sheetz

WATCH: Apple’s stock is plunging – Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: john melloy, shannon stapleton
Keywords: news, cnbc, companies, note, sales, price, apple, stock, turn, estimates, downgraded, target, given, starts, iphone, street, cut


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Vodafone’s new CEO to cut costs, review tower assets

Vodafone’s new chief executive Nick Read said he would reduce operating costs by 1.2 billion euros ($1.35 billion) by 2021 and review its tower assets to drive higher returns at the world’s second largest mobile operator. “My new strategic priorities focus on … radically simplifying our operating model and generating better returns from our infrastructure assets,” Read said on Tuesday. Analysts have suggested the group could partner with a tower group operator to bring extra cash into the busi


Vodafone’s new chief executive Nick Read said he would reduce operating costs by 1.2 billion euros ($1.35 billion) by 2021 and review its tower assets to drive higher returns at the world’s second largest mobile operator. “My new strategic priorities focus on … radically simplifying our operating model and generating better returns from our infrastructure assets,” Read said on Tuesday. Analysts have suggested the group could partner with a tower group operator to bring extra cash into the busi
Vodafone’s new CEO to cut costs, review tower assets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: justin tallis, afp, getty images
Keywords: news, cnbc, companies, tower, returns, billion, operating, vodafones, cut, group, euros, read, towers, ceo, costs, assets, review, vodafone


Vodafone's new CEO to cut costs, review tower assets

Vodafone’s new chief executive Nick Read said he would reduce operating costs by 1.2 billion euros ($1.35 billion) by 2021 and review its tower assets to drive higher returns at the world’s second largest mobile operator.

Replacing Vittorio Colao at the top of the British company after the Italian ran the group for 10 years, Read said he would also freeze the dividend until the British company has reduced its debt pile.

“My new strategic priorities focus on … radically simplifying our operating model and generating better returns from our infrastructure assets,” Read said on Tuesday.

The initial market reaction was positive, with Vodafone shares trading 7 percent higher shortly after the market opened.

The shares had fallen 39 percent since the beginning of the year as investors fret about the cost of acquiring Liberty Global’s cable assets in Germany, the outlay on new spectrum for 5G services and tougher conditions in some European markets.

Read, the former Vodafone finance director who took over the top job last month, said he had taken decisive commercial and operational actions to respond to challenging conditions in Italy and Spain, and would reduce Vodafone’s costs for the third year running.

As part of a move to drive better returns from investments and to share capital assets where possible, it would create a “virtual tower” company to manage the 58,000 towers it controls across Europe, with a dedicated management team.

The group is also conducting due diligence on how best to own all of its towers, including those held in joint ventures.

Analysts have suggested the group could partner with a tower group operator to bring extra cash into the business. Any change in the ownership of its towers would mark the latest reinvention at Vodafone which is adapting to rampant consumer demand for mobile and fixed broadband services at a time of high competition in the industry.

Colao announced his departure in May a week after Vodafone clinched a long discussed deal to pay $21.8 billion to buy Liberty Global’s assets in Germany and eastern Europe. That should allow it to take the fight to rivals with a broader range of superfast cable TV, broadband and mobile services.

On Tuesday the group showed it was operating generally in line with forecasts.

It reported group service revenue of 19.7 billion euros and adjusted earnings of 7.08 billion euros, up 2.9 percent on an organic basis for the six months to end of September, broadly in line with market forecasts.

Vodafone also narrowed its growth target for organic adjusted core earnings to 3 percent from a previous range of 1-5 percent and said it now expected free cash flow before spectrum costs to be around 5.4 billion euros, above the previous target of 5.2 billion euros.

It had an operating loss of 2.1 billion euros, largely driven by impairments of 3.5 billion euros in Spain, Romania and the Vodafone Idea business.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: justin tallis, afp, getty images
Keywords: news, cnbc, companies, tower, returns, billion, operating, vodafones, cut, group, euros, read, towers, ceo, costs, assets, review, vodafone


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Starbucks to cut 5% of its corporate workforce

Starbucks is planning to cut approximately 5 percent of its global corporate workforce, according to a memo sent by CEO Kevin Johnson on Tuesday. The news comes after Starbucks said in September it would cut corporate staff as it shuffles its organizational structure. The coffee giant has scaled back on store growth and closed underperforming company-owned locations. While the company still sees positive same-store sales, investors have been looking for a faster pace of sales growth. The company


Starbucks is planning to cut approximately 5 percent of its global corporate workforce, according to a memo sent by CEO Kevin Johnson on Tuesday. The news comes after Starbucks said in September it would cut corporate staff as it shuffles its organizational structure. The coffee giant has scaled back on store growth and closed underperforming company-owned locations. While the company still sees positive same-store sales, investors have been looking for a faster pace of sales growth. The company
Starbucks to cut 5% of its corporate workforce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kate rogers, christine wang, vcg, getty images
Keywords: news, cnbc, companies, cut, johnson, work, sales, growth, wall, workforce, corporate, street, store, company, memo, starbucks


Starbucks to cut 5% of its corporate workforce

Starbucks is planning to cut approximately 5 percent of its global corporate workforce, according to a memo sent by CEO Kevin Johnson on Tuesday.

About 350 employees in marketing, creative, product, technology and store development will be impacted, Johnson said in the memo obtained by CNBC.

Johnson said affected divisions will undergo “significant changes” as Starbucks narrows its priorities and aims to become a more nimble company. While the decisions were “incredibly difficult,” he said they were made after “very careful consideration.” Johnson said impacted roles were related to work that had been “eliminated” or “deprioritized.”

The Wall Street Journal first reported the layoffs.

The news comes after Starbucks said in September it would cut corporate staff as it shuffles its organizational structure.

Starbucks has been plagued with lagging U.S. sales for several quarters. The coffee giant has scaled back on store growth and closed underperforming company-owned locations.

While the company still sees positive same-store sales, investors have been looking for a faster pace of sales growth. As Starbucks executes its plan, its results have improved.

Chief Operating Officer Roz Brewer previously told CNBC that Starbucks shifted a number of “remedial tasks” that baristas were doing during the day to after closing, giving them more time to work with customers. By streamlining some of these operations, Starbucks aims to encourage customers to spend more time in its locations.

In its fiscal fourth quarter, Starbucks said sales in the U.S. and Americas that had been open for at least a year grew 4 percent. That topped Wall Street expectations for growth of about 2.7 percent.

Johnson said it was the company’s strongest same-store-sales growth in the U.S. in five quarters.

Starbucks said its loyalty program grew 15 percent year over year, hitting 15.3 million members. The company said Starbucks Rewards members drove nearly 40 percent of sales in the U.S.

WATCH:Here’s why Starbucks failed in Australia


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kate rogers, christine wang, vcg, getty images
Keywords: news, cnbc, companies, cut, johnson, work, sales, growth, wall, workforce, corporate, street, store, company, memo, starbucks


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If growth outlook worsens interest rates could be cut further: Reserve Bank of New Zealand

Interest rates in New Zealand are at an all-time low and the central bank has signaled it could remain at its current level until 2020 — but the bank is willing to cut rates further if needed, the deputy governor of the Reserve Bank of New Zealand Geoff Bascand told CNBC on Tuesday. At the same time, he added, “we’ve also seen firms really saying that they are struggling to get hold of the labor that they need. The central bank maintained its official cash rate (OCR) at a record low of 1.75 perc


Interest rates in New Zealand are at an all-time low and the central bank has signaled it could remain at its current level until 2020 — but the bank is willing to cut rates further if needed, the deputy governor of the Reserve Bank of New Zealand Geoff Bascand told CNBC on Tuesday. At the same time, he added, “we’ve also seen firms really saying that they are struggling to get hold of the labor that they need. The central bank maintained its official cash rate (OCR) at a record low of 1.75 perc
If growth outlook worsens interest rates could be cut further: Reserve Bank of New Zealand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: harini v
Keywords: news, cnbc, companies, told, central, rate, rates, growth, cut, reserve, weaker, bascand, interest, zealand, low, outlook, worsens, bank


If growth outlook worsens interest rates could be cut further: Reserve Bank of New Zealand

Interest rates in New Zealand are at an all-time low and the central bank has signaled it could remain at its current level until 2020 — but the bank is willing to cut rates further if needed, the deputy governor of the Reserve Bank of New Zealand Geoff Bascand told CNBC on Tuesday.

“(If) growth remains very soft, business confidence is very low — if that translates into weaker demand, weaker investment, then it is possible we would need to reduce the rate to provide a bit more stimulus,” Bascand, who was at the UBS Australasia conference, told CNBC’s Matt Taylor.

At the same time, he added, “we’ve also seen firms really saying that they are struggling to get hold of the labor that they need. The capacity constraints have been there.”

“In the face of that, we’re seeing a little bit of cost and price pressure on the horizon and so that also provides some upside risk to our rate track,” Bascand said, suggesting that wage inflation could prompt the RBNZ to consider raising interest rates.

The central bank maintained its official cash rate (OCR) at a record low of 1.75 percent for the 14th straight review on Thursday, and has previously indicated it could stay at this level through to 2020.

Bascand said cutting or hiking rates are both options that come with their own risks and noted that the central bank intends to maintain its interest rates while it watches the health of the economy closely.

“Right now, it’s best to sit and wait and watch — see how the data unfolds with risks on either side,” Bascand said.

— Reuters contributed to the article


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: harini v
Keywords: news, cnbc, companies, told, central, rate, rates, growth, cut, reserve, weaker, bascand, interest, zealand, low, outlook, worsens, bank


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Oil prices jump 2 percent after Saudi Arabia announces December supply cut

Oil prices jumped more than 1.5 percent on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019. Front-month Brent crude futures, a benchmark for global oil prices, were at $71.59 per barrel at 0749 GMT, up 2 percent from their last close. The cut represents a reduction in global oil supply of about 0.5 percent. Saudi Arabia is the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC).


Oil prices jumped more than 1.5 percent on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019. Front-month Brent crude futures, a benchmark for global oil prices, were at $71.59 per barrel at 0749 GMT, up 2 percent from their last close. The cut represents a reduction in global oil supply of about 0.5 percent. Saudi Arabia is the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC).
Oil prices jump 2 percent after Saudi Arabia announces December supply cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12
Keywords: news, cnbc, companies, supply, saudi, cut, announces, producers, crude, jump, million, prices, opec, arabia, energy, oil


Oil prices jump 2 percent after Saudi Arabia announces December supply cut

Oil prices jumped more than 1.5 percent on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019.

Front-month Brent crude futures, a benchmark for global oil prices, were at $71.59 per barrel at 0749 GMT, up 2 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures rose 1.6 percent to $61.15 per barrel.

Saudi Arabia plans to reduce oil supply to world markets by 500,000 barrels per day (bpd) in December, its energy minister said on Sunday, as the country faces uncertain prospects in getting other producers to agree to a coordinated output cut.

Khalid al-Falih told reporters that Saudi Aramco’s customer nominations would fall by 500,000 bpd in December versus November due to seasonal lower demand. The cut represents a reduction in global oil supply of about 0.5 percent.

Saudi Arabia is the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC).

An official from Kuwait, also an OPEC member, on Monday said that major oil exporters over the weekend had “discussed a proposal for some kind of cut in (crude) supply next year”, although the official did not provide any detail.

OPEC’s second-biggest producer Iraq has also indicated it may join in such a move.

Peter Kiernan, lead energy analyst at the Economist Intelligence Unit in Singapore, said OPEC was “focused on mitigating downside risks” after crude prices declined by around 20 percent over a month following a supply surge, particularly from the top three producers, the United States, Russia and Saudi Arabia.

For consumers, the 20 percent oil price fall since early October was a relief.

“This (price fall) is great news for the externally challenged economies of Asia like Indonesia and Philippines, India too, and helps also where inflation has been a concern,” Robert Carnell, chief economist and Head of Research at ING Asia, told the Reuters Global Markets Forum on Monday.

Major emerging economies like India, Indonesia and Turkey came under strong pressure earlier this year as their currencies slumped against the dollar just as oil prices surged, eroding demand.

Beyond demand concerns, a big concern for Saudi Arabia and other traditional producers from the Middle East-dominated OPEC is the surge in U.S. output.

U.S. energy firms last week added 12 oil rigs in the week to Nov. 9 looking for new reserves, bringing the total count to 886, the highest level since March 2015, Baker Hughes energy services firm said on Friday.

The rig count indicates U.S. crude output, already at a record 11.6 million bpd, will increase further.

“One thing that is abundantly clear, OPEC is in for a shale shocker as U.S. crude production increased to a record 11.6 million barrels per day and will cross the 12 million threshold next year,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore.


Company: cnbc, Activity: cnbc, Date: 2018-11-12
Keywords: news, cnbc, companies, supply, saudi, cut, announces, producers, crude, jump, million, prices, opec, arabia, energy, oil


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OPEC analysis shows need for a production cut of 1 million bpd

Meanwhile, Russia has urged OPEC and its partners to proceed with caution, saying the group must be careful not to make any “hasty” policy decisions. The next full OPEC meeting, when any policy decision will be voted on, is scheduled to take place in Vienna, Austria on December 6. If that means trimming supplies by a million (bpd), we will,” Saudi Arabia’s al-Falih said Monday. About two dozen exporting nations began capping their output in 2017 in a bid to drain a global crude glut. The group a


Meanwhile, Russia has urged OPEC and its partners to proceed with caution, saying the group must be careful not to make any “hasty” policy decisions. The next full OPEC meeting, when any policy decision will be voted on, is scheduled to take place in Vienna, Austria on December 6. If that means trimming supplies by a million (bpd), we will,” Saudi Arabia’s al-Falih said Monday. About two dozen exporting nations began capping their output in 2017 in a bid to drain a global crude glut. The group a
OPEC analysis shows need for a production cut of 1 million bpd Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: sam meredith, akos stiller, bloomberg, getty images
Keywords: news, cnbc, companies, meeting, market, shows, analysis, group, saudi, opec, million, oil, pumping, production, need, output, policy, producers, bpd, cut


OPEC analysis shows need for a production cut of 1 million bpd

Saudi Arabia said shortly after the JMMC meeting that while it would not overreact to falling oil prices, it would be prepared to reduce crude output in the near-term if necessary.

This appeared to be an abrupt turnabout from OPEC’s September meeting, when some of the world’s leading oil producers were talking about pumping extra oil onto the market in order to help soothe intensifying supply shock fears.

Meanwhile, Russia has urged OPEC and its partners to proceed with caution, saying the group must be careful not to make any “hasty” policy decisions.

The next full OPEC meeting, when any policy decision will be voted on, is scheduled to take place in Vienna, Austria on December 6.

“The consensus is we are going to do whatever it takes to balance the market. If that means trimming supplies by a million (bpd), we will,” Saudi Arabia’s al-Falih said Monday.

About two dozen exporting nations began capping their output in 2017 in a bid to drain a global crude glut. The group agreed in June to restore some of that output, and producers with spare capacity have been pumping more oil since then.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: sam meredith, akos stiller, bloomberg, getty images
Keywords: news, cnbc, companies, meeting, market, shows, analysis, group, saudi, opec, million, oil, pumping, production, need, output, policy, producers, bpd, cut


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Apple stock slides after supplier Lumentum cuts outlook

In Lumentum’s annual filing for fiscal year 2018, it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday. In a note Monday, Wells Fargo gave Apple a market perform rating and said “investors could consider Lumentum’s updated guide as reflecting as much as a 30% cut in Apple orders.” Bank of America Merrill Lynch had a rosier outlook, maintaining its neutral rating for Apple. The note added that the new i


In Lumentum’s annual filing for fiscal year 2018, it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday. In a note Monday, Wells Fargo gave Apple a market perform rating and said “investors could consider Lumentum’s updated guide as reflecting as much as a 30% cut in Apple orders.” Bank of America Merrill Lynch had a rosier outlook, maintaining its neutral rating for Apple. The note added that the new i
Apple stock slides after supplier Lumentum cuts outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: lauren feiner, adam jeffery
Keywords: news, cnbc, companies, lumentum, stock, cuts, apple, note, production, largest, slides, cut, lumentums, rating, 30, fiscal, supplier, outlook


Apple stock slides after supplier Lumentum cuts outlook

Google and Facebook can’t be put in the same category, expert says 3 Hours Ago | 05:33

In a statement, Lumentum President and CEO Alan Lowe said, “We recently received a request from one of our largest Industrial and Consumer customers for laser diodes for 3D sensing to materially reduce shipments to them during our fiscal second quarter for previously placed orders that were originally scheduled for delivery during the quarter.”

In Lumentum’s annual filing for fiscal year 2018, it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday.

In a note Monday, Wells Fargo gave Apple a market perform rating and said “investors could consider Lumentum’s updated guide as reflecting as much as a 30% cut in Apple orders.”

Bank of America Merrill Lynch had a rosier outlook, maintaining its neutral rating for Apple. In a note Monday, analysts wrote that the guidance update could indicate “inventory build and also an earlier start to production … that could magnify the perceived impact of these cuts.” The note added that the new iPad Pro also uses FaceID, so the shipment cut may not translate directly to iPhone production.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: lauren feiner, adam jeffery
Keywords: news, cnbc, companies, lumentum, stock, cuts, apple, note, production, largest, slides, cut, lumentums, rating, 30, fiscal, supplier, outlook


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A popular Apple analyst just cut his iPhone XR shipment estimates by 30 million units

Well-known Apple analyst, TF International Securities’ Ming-Chi Kuo, cut his forecast for iPhone XR shipments by 30 million units in a research note issued Monday. “We have reduced our iPhone XR shipment estimation from 100mn units to 70mn during the new product lifecycle (4Q18 – 3Q19),” Kuo said. Kuo still said Apple will ship 75 million to 80 million iPhone units during its fiscal fourth quarter, or Apple’s Q1 2019. “The increased shipment estimations of the iPhone XS series and legacy models


Well-known Apple analyst, TF International Securities’ Ming-Chi Kuo, cut his forecast for iPhone XR shipments by 30 million units in a research note issued Monday. “We have reduced our iPhone XR shipment estimation from 100mn units to 70mn during the new product lifecycle (4Q18 – 3Q19),” Kuo said. Kuo still said Apple will ship 75 million to 80 million iPhone units during its fiscal fourth quarter, or Apple’s Q1 2019. “The increased shipment estimations of the iPhone XS series and legacy models
A popular Apple analyst just cut his iPhone XR shipment estimates by 30 million units Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: todd haselton, vcg, visual china group, getty images, magdalena petrova
Keywords: news, cnbc, companies, cut, apple, iphone, units, xs, apples, analyst, estimates, popular, xr, kuo, million, shipment


A popular Apple analyst just cut his iPhone XR shipment estimates by 30 million units

Well-known Apple analyst, TF International Securities’ Ming-Chi Kuo, cut his forecast for iPhone XR shipments by 30 million units in a research note issued Monday. The iPhone XR is Apple’s most affordable new iPhone and was released in October.

“We have reduced our iPhone XR shipment estimation from 100mn units to 70mn during the new product lifecycle (4Q18 – 3Q19),” Kuo said. It’s a reversal from a similar report issued in October, in which Kuo said he expected the iPhone XR to be a big seller for Apple.

Kuo outlined several reasons for his lowered estimate, including “negative impacts on consumer confidence from the trade war, especially in the Chinese market.” Kuo added that consumers may prefer the narrower bezels and better cameras on Apple’s more expensive iPhone XS and iPhone XS phones, too. Finally, he said Huawei’s new Mate 20 series phones will increase competition for the iPhone XR.

Huawei isn’t a big player in the U.S., but it’s one of the largest phone brands in China and throughout Asia.

Kuo still said Apple will ship 75 million to 80 million iPhone units during its fiscal fourth quarter, or Apple’s Q1 2019.

“The increased shipment estimations of the iPhone XS series and legacy models can offset the XR shipment estimation cut,” he said. Kuo said Apple will ship 47 million to 52 million iPhone units during the first quarter (Apple’s fiscal Q2 2019), down from his original estimate of 55 to 60 million units.

Kuo said iPhone XR parts suppliers including Career and Nissha printing will be “the major losers resulting from the XR cut because these two companies cannot benefit from the increased shipment estimations of legacy models.”

Shares of Apple are trading down on Monday after Lumentum, a supplier for Apple’s Face ID facial recognition system, cut its outlook and said a major customer — believed to be Apple — reduced shipment requests.

Apple declined to comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: todd haselton, vcg, visual china group, getty images, magdalena petrova
Keywords: news, cnbc, companies, cut, apple, iphone, units, xs, apples, analyst, estimates, popular, xr, kuo, million, shipment


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