Credit Suisse tells clients to sell into a 5% stocks rally it sees coming

Global stocks are likely to rise in the near term and investors should be selling into that strength, according to Credit Suisse strategists. Reduced corporate profit expectations, tightening financial conditions due to Federal Reserve actions and elevated levels of corporate debt are three of the principal factors conspiring to limit market upside, the bank said in a research note. Weakness in China and an overall inability for central banks to respond also are compounding the challenge. The sl


Global stocks are likely to rise in the near term and investors should be selling into that strength, according to Credit Suisse strategists. Reduced corporate profit expectations, tightening financial conditions due to Federal Reserve actions and elevated levels of corporate debt are three of the principal factors conspiring to limit market upside, the bank said in a research note. Weakness in China and an overall inability for central banks to respond also are compounding the challenge. The sl
Credit Suisse tells clients to sell into a 5% stocks rally it sees coming Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: jeff cox, carlo allegri
Keywords: news, cnbc, companies, tells, stocks, market, earnings, garthwaite, sell, markets, clients, credit, selling, equities, suisse, coming, upside, sees, corporate, rally


Credit Suisse tells clients to sell into a 5% stocks rally it sees coming

Global stocks are likely to rise in the near term and investors should be selling into that strength, according to Credit Suisse strategists.

Reduced corporate profit expectations, tightening financial conditions due to Federal Reserve actions and elevated levels of corporate debt are three of the principal factors conspiring to limit market upside, the bank said in a research note. Weakness in China and an overall inability for central banks to respond also are compounding the challenge.

To be sure, Credit Suisse does not see conditions ripe for a bear market and is in fact forecasting a further boost in equities on top of the solid rally that has kicked off 2019.

But they anticipate that the market obstacles will make further increases tough to come by.

“We stick to the year-end targets .. which currently point to around 5% upside for the key global markets, but advise selling developed markets into the rally rather than continuing to build positions,” analyst Andrew Garthwaite and others said in the report.

On the positive side, Garthwaite said a recession is unlikely, valuations are attractive particularly outside the U.S., and central bank pauses in rate hikes, like the one the market expects from the Fed, typically coincide with market gains.

The slowdown in corporate earnings, after a year in which U.S. companies posted 20 percent gains, is one obstacle. This year is likely to see that earnings pace domestically drop to 6.9 percent, according to FactSet.

“Global earnings revisions are now negative and correlate very closely to moves in equities,” Garthwaite wrote. “At this level, they are now consistent with falling equities over the next year.”


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: jeff cox, carlo allegri
Keywords: news, cnbc, companies, tells, stocks, market, earnings, garthwaite, sell, markets, clients, credit, selling, equities, suisse, coming, upside, sees, corporate, rally


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Reports of GE’s death are greatly exaggerated, according to one trader

Despite a glimmer of hope for General Electric shareholders over the past month as the stock has rebounded, the analyst who called the initial collapse is warning the worst isn’t over yet. Tusa — who was one of the first analysts on the Street to put a sell rating on the stock in 2016 — changed his tune last month with an upgrade to neutral. “I don’t think we get back to the lows we saw back in December,” he said Tuesday on CNBC’s “Trading Nation. “But I do think long-term buyers will be able to


Despite a glimmer of hope for General Electric shareholders over the past month as the stock has rebounded, the analyst who called the initial collapse is warning the worst isn’t over yet. Tusa — who was one of the first analysts on the Street to put a sell rating on the stock in 2016 — changed his tune last month with an upgrade to neutral. “I don’t think we get back to the lows we saw back in December,” he said Tuesday on CNBC’s “Trading Nation. “But I do think long-term buyers will be able to
Reports of GE’s death are greatly exaggerated, according to one trader Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: nia warfield, frederick florin, afp, getty images, joseba etxaburu, mark kauzlarich, bloomberg, justin sullivan, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, ges, straight, sell, according, stock, rating, reports, trading, ge, past, greatly, month, death, trader, longterm, think, exaggerated


Reports of GE's death are greatly exaggerated, according to one trader

Despite a glimmer of hope for General Electric shareholders over the past month as the stock has rebounded, the analyst who called the initial collapse is warning the worst isn’t over yet.

Shares of the industrial giant were under pressure Tuesday after J.P. Morgan analyst Stephen Tusa warned investors of more “unfavorable” headwinds for the company as it heads into earnings later this month.

Tusa — who was one of the first analysts on the Street to put a sell rating on the stock in 2016 — changed his tune last month with an upgrade to neutral. The rare bullish rating sparked a surge in GE, and lifted by the broader market rally, the shares are now up more than 30 percent from the lows.

Matt Maley, equity strategist at Miller Tabak, said the stock is facing as key level as it rises just above its 100-day moving average, but the trend might not last. “I don’t think we get back to the lows we saw back in December,” he said Tuesday on CNBC’s “Trading Nation.

“But I do think long-term buyers will be able to buy [GE] at lower prices over the next month or so.”

“[GE is] getting overbought to the same degree that is has on several different occasions in the last two years, including kind of the key top in late 2016,” he said. “Each time we’ve reached that level, it’s rolled over.”

Conversely, Michael Bapis, managing director, Vios Advisors at Rockefeller Capital Management, believes the fundamental picture behind GE is still intact.

“[GE] was hit hard by a sell anything December and probably tax-loss selling,” he said on “Trading Nation.” “We think this is a classic mispricing of a security.” Bapis also suggested that although analysts believe the majority of GE’s value lies within its health-care and aviation units, the calculation doesn’t tell the whole story.

“It may not be straight up as it has in the past month, but we’re long-term buyers of it and if you look at the valuations and the fundamentals, they point to straight up,” he said.

Shares of GE are up nearly 18 percent so far this year.


Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: nia warfield, frederick florin, afp, getty images, joseba etxaburu, mark kauzlarich, bloomberg, justin sullivan, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, ges, straight, sell, according, stock, rating, reports, trading, ge, past, greatly, month, death, trader, longterm, think, exaggerated


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Chinese automaker GAC motor delays plans to sell in US until 2020

Chinese automaker GAC Motor, which originally planned to start selling vehicles in the U.S. by late 2019, says it now plans to begin sales in first half of 2020. GAC would be the first Chinese brand vehicle sold in the U.S.Volvo, which is owned China based Geely Automotive, is the only automaker selling in the U.S. owned by a Chinese company. BehindTheWheel@cnbc.com.


Chinese automaker GAC Motor, which originally planned to start selling vehicles in the U.S. by late 2019, says it now plans to begin sales in first half of 2020. GAC would be the first Chinese brand vehicle sold in the U.S.Volvo, which is owned China based Geely Automotive, is the only automaker selling in the U.S. owned by a Chinese company. BehindTheWheel@cnbc.com.
Chinese automaker GAC motor delays plans to sell in US until 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: phil lebeau, zhang peng, getty images
Keywords: news, cnbc, companies, delays, usvolvo, gac, motor, selling, owned, sales, chinese, start, vehicles, 2020, sold, sell, vehicle, plans, automaker


Chinese automaker GAC motor delays plans to sell in US until 2020

Chinese automaker GAC Motor, which originally planned to start selling vehicles in the U.S. by late 2019, says it now plans to begin sales in first half of 2020.

GAC would be the first Chinese brand vehicle sold in the U.S.

Volvo, which is owned China based Geely Automotive, is the only automaker selling in the U.S. owned by a Chinese company.

Questions? Comments? BehindTheWheel@cnbc.com.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: phil lebeau, zhang peng, getty images
Keywords: news, cnbc, companies, delays, usvolvo, gac, motor, selling, owned, sales, chinese, start, vehicles, 2020, sold, sell, vehicle, plans, automaker


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Retailers are slashing iPhone prices across China as consumers say the phones aren’t worth the cost

Apple’s latest iPhone models are facing huge discounts in China as retailers try to sell the struggling devices. That comes as the top-of-the-line Apple smartphones have posted poor China sales on what experts say are too-high prices for the world’s largest smartphone market and a lack of innovative features compared to local competitors like Huawei. Other third-party sellers on the site had the devices for even cheaper, offering flash sales to try to unload iPhones. Sunion, an Apple re-seller,


Apple’s latest iPhone models are facing huge discounts in China as retailers try to sell the struggling devices. That comes as the top-of-the-line Apple smartphones have posted poor China sales on what experts say are too-high prices for the world’s largest smartphone market and a lack of innovative features compared to local competitors like Huawei. Other third-party sellers on the site had the devices for even cheaper, offering flash sales to try to unload iPhones. Sunion, an Apple re-seller,
Retailers are slashing iPhone prices across China as consumers say the phones aren’t worth the cost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: arjun kharpal, visual china group, getty images, marlene awaad, bloomberg, chinafotopress
Keywords: news, cnbc, companies, site, china, phones, xr, sales, version, prices, worth, iphone, sell, slashing, consumers, yuan, market, cost, apple, say, retailers


Retailers are slashing iPhone prices across China as consumers say the phones aren't worth the cost

Apple’s latest iPhone models are facing huge discounts in China as retailers try to sell the struggling devices.

That comes as the top-of-the-line Apple smartphones have posted poor China sales on what experts say are too-high prices for the world’s largest smartphone market and a lack of innovative features compared to local competitors like Huawei. The technology giant itself acknowledged earlier this month that unexpectedly low sales in the Chinese market would likely lead to worse-than-anticipated first quarter revenues.

One of the most recent iPhone cost cuts in the country came from Suning, a large Chinese retailer, which changed the price of the 128GB version of the iPhone XR from 6,999 yuan ($1,036) to 5,799 yuan ($858) — a 1,200 yuan ($178) discount.

Other third-party sellers on the site had the devices for even cheaper, offering flash sales to try to unload iPhones. One seller had a 256GB version of the iPhone XS Max, Apple’s most premium device, for 9,699 yuan ($1,436), way below the U.S. firm’s official selling price of 10,999 yuan ($1,628) for that smartphone.

Still, that remains more expensive than in the U.S., where the same phone would sell for $1,249, according to the Apple website.

And that’s just on one site. Other retailers in China are also putting their iPhones on sale. Sunion, an Apple re-seller, was advertising 700 yuan off for both the 128GB and 256GB versions of the iPhone XR. E-commerce site Pinduoduo, which allows third-parties to sell products, also had hefty discounts across all of the latest iPhone models.

Apple’s issues in China are down to two major factors, experts and local consumers say: It got its pricing wrong, and it has failed to introduce features to excite consumers in a forward-thinking technology market. Now, analysts said, competitors have taken market share in the premium smartphone space.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: arjun kharpal, visual china group, getty images, marlene awaad, bloomberg, chinafotopress
Keywords: news, cnbc, companies, site, china, phones, xr, sales, version, prices, worth, iphone, sell, slashing, consumers, yuan, market, cost, apple, say, retailers


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Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won’t sell

Tilray popped 24 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lockup period next week. “Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.” This eased concerns of shareholders in the volatile stock and spurred short sellers betting against Privateer to close their pos


Tilray popped 24 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lockup period next week. “Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.” This eased concerns of shareholders in the volatile stock and spurred short sellers betting against Privateer to close their pos
Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won’t sell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, grower, shares, tilray, thielbacked, prevent, weekprivateer, privateer, sell, soars, peter, marijuana, short, period, wall, 20, lockup, fund, wont


Marijuana grower Tilray soars more than 20% after Peter Thiel-backed fund says it won't sell

Tilray popped 24 percent Friday after its largest shareholder, a private equity fund backed by Peter Thiel, said it will not sell any of its remaining stake following the expiration of the marijuana grower’s IPO lockup period next week.

“Privateer Holdings strongly believes in Tilray’s long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry,” said Michael Blue, a managing partner at Privateer, which owns about 80 percent of Tilray. “Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019.”

This eased concerns of shareholders in the volatile stock and spurred short sellers betting against Privateer to close their positions to prevent further losses, a phenomenon known on Wall Street as a short squeeze.

Tilray shares are up nearly 500 percent since their initial public offering on the Nasdaq in July. Such lockup periods are designed to prevent company insiders — including employees, their friends and family and venture capitalists — from selling their shares for a set period of time, according to the Securities and Exchange Commission.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: thomas franck, adam jeffery
Keywords: news, cnbc, companies, grower, shares, tilray, thielbacked, prevent, weekprivateer, privateer, sell, soars, peter, marijuana, short, period, wall, 20, lockup, fund, wont


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There are a ton of buy and sell calls from Wall Street on Wednesday. Here are the biggest

The firm also raised its price target from $92 to $95, representing a 25 percent rally from here, on optimism about the sneaker maker’s online sales expansion. “Q2 an impressive beat but we are more impressed by what’s coming ahead in terms of digital and how it affects Nike’s model…After years of investments and a decade of stable margins, Nike could be at brink of multi-year margin expansion story,” the note stated. “With management thinking that its target for digital to reach 30% by 2023 i


The firm also raised its price target from $92 to $95, representing a 25 percent rally from here, on optimism about the sneaker maker’s online sales expansion. “Q2 an impressive beat but we are more impressed by what’s coming ahead in terms of digital and how it affects Nike’s model…After years of investments and a decade of stable margins, Nike could be at brink of multi-year margin expansion story,” the note stated. “With management thinking that its target for digital to reach 30% by 2023 i
There are a ton of buy and sell calls from Wall Street on Wednesday. Here are the biggest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: john melloy
Keywords: news, cnbc, companies, ton, sales, investments, biggest, calls, valuation, online, buy, wall, whats, street, margin, digital, target, nike, visible, sell


There are a ton of buy and sell calls from Wall Street on Wednesday. Here are the biggest

The firm also raised its price target from $92 to $95, representing a 25 percent rally from here, on optimism about the sneaker maker’s online sales expansion.

“Q2 an impressive beat but we are more impressed by what’s coming ahead in terms of digital and how it affects Nike’s model…After years of investments and a decade of stable margins, Nike could be at brink of multi-year margin expansion story,” the note stated.

“With management thinking that its target for digital to reach 30% by 2023 is likely low and mentioning that eventually online sales could exceed 50% of its business, we see this as a margin game-changer. Indeed, heavy investments have been made in platforms and data analytics, and we believe that returns are now bound to start being more visible,” added the analyst.

(Separately Nike was downgraded by Baird on concerns about valuation.)


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: john melloy
Keywords: news, cnbc, companies, ton, sales, investments, biggest, calls, valuation, online, buy, wall, whats, street, margin, digital, target, nike, visible, sell


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Apple analysts have let down their clients but this shouldn’t be a surprise

Apple analysts, huh, what were they good for? Yes, this may be a sweeping damnation of the analyst community’s performance regarding Apple, but let me add I’m going to try to avoid repeating the whole Apple demise story. What I want you to think about is the absolute “shock” experienced by the analysts regarding Apple’s revenue warning last week. I want you to consider how many of the Wall Street analysts covering Apple had an outright “sell,” or even an “underweight,” on the stock? As of Decemb


Apple analysts, huh, what were they good for? Yes, this may be a sweeping damnation of the analyst community’s performance regarding Apple, but let me add I’m going to try to avoid repeating the whole Apple demise story. What I want you to think about is the absolute “shock” experienced by the analysts regarding Apple’s revenue warning last week. I want you to consider how many of the Wall Street analysts covering Apple had an outright “sell,” or even an “underweight,” on the stock? As of Decemb
Apple analysts have let down their clients but this shouldn’t be a surprise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: steve sedgwick, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, strong, warning, shouldnt, stock, sell, let, scared, watching, analysts, repeating, apple, clients, surprise


Apple analysts have let down their clients but this shouldn't be a surprise

Apple analysts, huh, what were they good for? Absolutely nothing. Say it again…

Yep, that’s right, I just butchered one of the most powerful lyrics of the past fifty years. Lyrics immortalized by Edwin Starr in the 1970 Vietnam protest song, but for me it kind of grabs your attention and makes the point rather succinctly.

Yes, this may be a sweeping damnation of the analyst community’s performance regarding Apple, but let me add I’m going to try to avoid repeating the whole Apple demise story. A precipitous fall that has taken it from being worth circa $1.2 trillion to its current more modest $700 billion valuation. One that has many of us who remember Nokia at its year 2000 peak wondering if we will see history repeating itself so speedily?

What I want you to think about is the absolute “shock” experienced by the analysts regarding Apple’s revenue warning last week.

I want you to consider how many of the Wall Street analysts covering Apple had an outright “sell,” or even an “underweight,” on the stock? Now my Reuters analytics may be malfunctioning terribly but I’ve been watching Apple’s stock pretty keenly for years now and in advance of last week’s warning there were — wait for it — zero sells out there on the stock. Not one. As of December 27, Apple had 13 “strong buy” ratings from analysts, 10 “buy” and 20 “hold” ratings, with no “sell” or “strong sell” ratings.

Anyone else feeling a little let down by the objectivity of this motley crew? Let down, yes, yet again, but not surprised.

They herded, scared of being on the wrong side of perhaps the greatest of the FAANGs (Facebook, Apple, Amazon, Netflix and Alphabet’s Google), scared of leaving the pack and actually watching what was going on.

Even us humble, lightweight business TV anchors spotted that there were big problems after the company pulled its individual iPhone number from future reporting back in November. What? Don’t believe me? Play the tapes … all of them, there are lots.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: steve sedgwick, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, strong, warning, shouldnt, stock, sell, let, scared, watching, analysts, repeating, apple, clients, surprise


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Cramer’s lightning round: Be ‘very careful’ with this stock—it’s in a ‘giant short squeeze’

Stamps.com Inc.: “This is a giant short squeeze. I want you to be very, very careful of this stock. It is a wild trader and it is not my favorite because I don’t really understand how they make a lot of money. I have to investigate, because I’ve got to tell you, I think this is one of the great stocks. It’s not going to go to $0, but I think that Kraft Heinz is a stock that, if it goes back to $50, I want you to sell, sell, sell.


Stamps.com Inc.: “This is a giant short squeeze. I want you to be very, very careful of this stock. It is a wild trader and it is not my favorite because I don’t really understand how they make a lot of money. I have to investigate, because I’ve got to tell you, I think this is one of the great stocks. It’s not going to go to $0, but I think that Kraft Heinz is a stock that, if it goes back to $50, I want you to sell, sell, sell.
Cramer’s lightning round: Be ‘very careful’ with this stock—it’s in a ‘giant short squeeze’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, lightning, really, careful, squeeze, stock, sell, ive, 20, tell, short, heinz, giant, think, going, cramers, round, stockits, zero


Cramer's lightning round: Be 'very careful' with this stock—it's in a 'giant short squeeze'

Stamps.com Inc.: “This is a giant short squeeze. I want you to be very, very careful of this stock. It is a wild trader and it is not my favorite because I don’t really understand how they make a lot of money. I do welcome them on the show, though.”

Medtronic PLC: “People were saying that they actually gave you a view of fiscal [year] ’20 that was below what people were looking for. I have to investigate, because I’ve got to tell you, I think this is one of the great stocks. I’m not giving up on Medtronic until I’ve done a little more work.”

Transocean Ltd.: “At this point, I want you to hold on. I think this group is dramatically oversold, but I will tell you: about 20 to 25 percent higher, you’re going to have to exit because it’s just not that kind of market. They need $100 oil to really kill it.”

Kraft Heinz Co.: “This stock has what I call no mojo. This stock is a goal-post hitter and then a bounce off and then a zero. It’s not going to go to $0, but I think that Kraft Heinz is a stock that, if it goes back to $50, I want you to sell, sell, sell. Can I be more clear? No.”

HMS Holdings Corp.: “If that’s what you like, you want to be in that cohort, then I suggest you go back to Centene, CNC, which is off horribly from $148, all the way down to $115.”


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, lightning, really, careful, squeeze, stock, sell, ive, 20, tell, short, heinz, giant, think, going, cramers, round, stockits, zero


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Apple has a huge privacy ad at CES 2019

Apple posted a huge advertisement on the side of a hotel that overlooks the Las Vegas Convention Center, where rivals Google and Amazon are set to have a huge presence at this year’s CES. The message, which takes up about 13 floors of building, says : “What happens on your iPhone, stays on your iPhone” with the URL to Apple’s privacy website. While Apple’s ad focuses specifically on phones, it’s really a broader message about the companies it competes with in multiple industries. Amazon and Goog


Apple posted a huge advertisement on the side of a hotel that overlooks the Las Vegas Convention Center, where rivals Google and Amazon are set to have a huge presence at this year’s CES. The message, which takes up about 13 floors of building, says : “What happens on your iPhone, stays on your iPhone” with the URL to Apple’s privacy website. While Apple’s ad focuses specifically on phones, it’s really a broader message about the companies it competes with in multiple industries. Amazon and Goog
Apple has a huge privacy ad at CES 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-06  Authors: todd haselton
Keywords: news, cnbc, companies, data, message, huge, isnt, ces, apple, presence, amazon, ad, 2019, google, iphone, privacy, companies, sell


Apple has a huge privacy ad at CES 2019

Apple posted a huge advertisement on the side of a hotel that overlooks the Las Vegas Convention Center, where rivals Google and Amazon are set to have a huge presence at this year’s CES.

The message, which takes up about 13 floors of building, says : “What happens on your iPhone, stays on your iPhone” with the URL to Apple’s privacy website.

While Apple’s ad focuses specifically on phones, it’s really a broader message about the companies it competes with in multiple industries.

Apple’s message is clear: we’re not trying to sell your data, while Amazon and Google use your data — if sometimes anonymously — to try to sell you stuff.

Amazon and Google are expected to have a lot to show at CES. Partners of both companies, from TV to appliance makers, will unveil gadgets with Amazon Alexa and Google Assistant built-in. Google has also said it tripled the size of its presence at CES from last year.

Apple might also be playing defense, though. Its HomePod isn’t as popular as the Google Home or Amazon Echo. November data from research firm Canalys has Amazon and Google with 31.9 percent and 29.8 percent share of the smart speaker market, respectively, while Apple isn’t even included as a big player.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-01-06  Authors: todd haselton
Keywords: news, cnbc, companies, data, message, huge, isnt, ces, apple, presence, amazon, ad, 2019, google, iphone, privacy, companies, sell


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Here’s why Apple’s slowdown in China could mean bad news for Best Buy

Apple products “drive traffic and motivate consumers” to go into Best Buy stores in the first place, he said. “We’ve built over the years a very unique experience selling Apple products,” Best Buy CEO Hubert Joly told analysts on an earnings conference call. “Apple would say … Best Buy provides the best retail experience for their products and services outside of their own home.” Best Buy has about 900 Apple stores within its stores in addition to roughly 3,000 employees that focus solely on s


Apple products “drive traffic and motivate consumers” to go into Best Buy stores in the first place, he said. “We’ve built over the years a very unique experience selling Apple products,” Best Buy CEO Hubert Joly told analysts on an earnings conference call. “Apple would say … Best Buy provides the best retail experience for their products and services outside of their own home.” Best Buy has about 900 Apple stores within its stores in addition to roughly 3,000 employees that focus solely on s
Here’s why Apple’s slowdown in China could mean bad news for Best Buy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, told, mean, apples, china, apple, best, started, heres, bad, slowdown, selling, buy, stores, sell, products, sales


Here's why Apple's slowdown in China could mean bad news for Best Buy

And “Apple’s significance to Best Buy goes beyond just its direct sales contribution,” Lasser said. Apple products “drive traffic and motivate consumers” to go into Best Buy stores in the first place, he said.

As recent as last month, Best Buy has argued its relationship with Apple is still going strong.

“We’ve built over the years a very unique experience selling Apple products,” Best Buy CEO Hubert Joly told analysts on an earnings conference call. “Apple would say … Best Buy provides the best retail experience for their products and services outside of their own home.”

Best Buy has about 900 Apple stores within its stores in addition to roughly 3,000 employees that focus solely on selling Apple devices.

Joly added “it’s unclear at this point what the net effect is going to be” for Best Buy now that Amazon is starting to sell Apple devices on its website. But this remains a top concern for the retailer on Wall Street, moving forward.

As Apple looks to sell its iPhones and other devices through Costco, Amazon and other distributors to boost sales growth, it will make it harder for Best Buy to maintain its own sales gains, Lasser said. He compared the situation to when Under Armour started selling at Kohl’s, hurting sales of the athletic apparel brand at Dick’s Sporting Goods. “Apple’s moves might not be as draconian for Best Buy,” he said. “But, they do illustrate a risk.”

A Best Buy spokesman didn’t immediately return CNBC’s request for comment.

Best Buy shares were up less than 1 percent Thursday afternoon. The stock has tumbled roughly 21 percent from a year ago.

Other businesses in the U.S. ranging from Ford to Tiffany have already started flashing warning signs about the Chinese economy.

“Given that concerns around global demand have been a primary driver of the mass sell-off last year, it seems fair to assume that any further indications of slowdown in China should simply add fuel to the fire of fear,” Nomura Instinet analyst Simeon Siegel told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: lauren thomas, getty images
Keywords: news, cnbc, companies, told, mean, apples, china, apple, best, started, heres, bad, slowdown, selling, buy, stores, sell, products, sales


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