Over 4.1 million gather at Grand Mosque on 29th night of Ramadan    Myanmar earthquake death toll climbs to 144    Zelenskyy says new US draft minerals deal 'significantly differs,' rules out treating aid as a loan    Sudanese army says it has cleared final RSF positions in Khartoum    Trump renews push to acquire Greenland    Interior minister visits Grand Mosque operations center    Saudi Arabia prepares over 19,000 mosques and open-air prayer grounds for Eid Al-Fitr prayers    Reef Saudi bazaar celebrates rural heritage with traditional crafts and strong public turnout    World's largest barbershop opens at Clock Towers Center in Makkah to serve pilgrims    Saudi non-oil exports jump 10.7% in January    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    OMODA&JAECOO Accelerate Global Expansion JAECOO J8 records strong first month orders in Saudi Arabia, J5 prepares for launch    LOT - The Value Shop makes its grand debut in Hafar Al-Batin    100 Thieves claim Marvel Rivals Invitational NA crown as 2025 scene heats up    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    Bollywood actress vindicated over boyfriend's death after media hounding    Saudi Arabia hold Japan to goalless draw in Saitama to stay in World Cup hunt    Disney's Snow White film tops box office despite bad reviews    NewJeans announces hiatus after setback in court battle    George Foreman, heavyweight champion and cultural icon, dies at 76    Court rules against K-pop group NewJeans in record label dispute    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Apple's stock dips as concerns mount about iPhone shipments
Published in Alriyadh on 17 - 12 - 2015

Shares of Apple (AAPL.O) dipped on Wednesday on growing expectations that the consumer technology company may sell fewer iPhones next year than previously thought.
In a note to clients on Wednesday, Bank of America cut its estimate for fiscal 2016 iPhone shipments by 10 million to 220 million, pointing to a weakening among Apple's suppliers.
In another note, Raymond James lowered its estimate for 2016 iPhone shipments to 224 million from 229 million, also pointing to lackluster expectations at Apple suppliers. And on Tuesday, Baird Equity Research trimmed its 2016 iPhone forecast to 234.7 million from 243.8 million, implying 1.5 percent growth over 2015.
Reflecting growing doubts about future iPhone sales, shares of Apple have fallen 4.4 percent over the past month and are down about 18 percent from record highs in April.
In the latest hints of weakness among Apple suppliers, Imagination Technologies on Tuesday said softness in the overall semiconductor industry and smartphone market meant its operating profit would be lower than expected for the rest of its fiscal year.
That mirrored weakness at German peer Dialog Semi (DLGS.DE), which also cut its outlook, citing softer-than-expected demand for chips used in mobile phones such as the iPhone.
"Though we always take supply chain comments with a hefty grain of salt, the Baird semiconductor team recently suggested a 20 percent cut in procurement orders based on its supply chain conversations," Baird analyst William Power wrote in a client note.
Reflecting increasing bets by Wall Street against Apple, short interest edged up to 1.9 percent of its outstanding shares at the end of November from 1.3 percent midway through the month, according to Nasdaq data.
Morgan Stanley said in a note on Sunday it expects iPhone unit sales to drop 6 percent in the 2016 calendar year as higher prices in markets outside Americas, excluding China, and maturing smartphone penetration in developed markets weigh on upgrades and new user growth.
Apple shares were down 0.7 percent at $109.71 on Monday, well off their high of $134.54 on April 28.


Clic here to read the story from its source.