Apple (NASDAQ:AAPL): iPhone production forecast is now under pressure- FBR
Source: http://notablecalls.blogspot.com/2008/11/apple-nasdaqaapl-iphone-production.htmlPosted on Monday, November 3rd, 2008 | In Market Commentary
Contributed by: Notable Calls (http://notablecalls.blogspot.com/) -
Friedman Billings Ramsey (FBR) is out with a very negative call on Apple’s (NASDAQ:AAPL) iPhone demand:
Our most recent checks suggest to us Apple’s iPhone production forecast is now under pressure. While our previous checks indicated that iPhone production would fall about 10% sequentially in calendar 4Q, our new checks indicate that iPhone production could fall more than 40% sequentially in 4Q. We believe asimilar amount of production was removed from the calendar 1Q build forecast, though there is still plenty of time to modify that forecast should further revisions be necessary ( – firm sees this neg for BRCM, MRVL, LLTC).
Notablecalls: Note that at the beginning of Oct Apple said iPhone builds remained healthy. Looks like iPhone demand has deteriorated over the past weeks. This is going to hurt AAPL.
Last 5 posts by Notable Calls
- Petroquest Energy (NYSE:PQ): Compelling Valuation with Near-Term Catalysts; Upgrading to Overweight - J.P. Morgan - October 29th, 2009
- 15% correction coming in SP500? - October 21st, 2009
- Boeing (NYSE:BA): Downgraded to Underweight at Morgan Stanley, target to $43 - October 20th, 2009
- Par Pharmaceuticals (NYSE:PRX): Upgraded to Overweight at Barclays; target raised to $30 - October 15th, 2009
- Wyndham Worldwide (NYSE:WYN): Upgraded to Buy at Goldman Sachs; $26 target established - October 7th, 2009
 About Notable Calls (http://notablecalls.blogspot.com/)
Notable Calls is composed by an anonymous Wall Street professional who, every morning before market open, collects actionable analyst notes and offers an insightful personal response. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.