Apple Stock Hit by Analyst Warning

A Credit Suisse analyst reported today that Apple has cut component orders:

Apple has lowered its component orders by as much as 10 percent, according to our teams in Asia. The cuts seem to be driven by weak demand for the new iPhone 6s.

In response, Apple’s stock fell by over three percent.

Who knows – the report may well turn out to foreshadow a drop in iPhone sales. However, consider that Apple’s CFO, Luca Maestri, forecasted that Apple will likely grow iPhone sales this quarter on their earnings call last week.

The way I can best explain these kinds of reports – without any firsthand knowledge but with strong suspicion – is that these investment companies do this to talk a stock down in order to give their clients an opportunity to buy the stock at a better price. Call me cynical, but it happens all… the… time.

Categories    Apple