Thursday December 17, 2015

Apple Stock Dips Over Concerns About iPhone Shipments

Apple's stock is taking a hit over the amount of iPhones the company is shipping? I would be more concerned with the fact that the iPhone seems to be the only thing Apple is shipping these days.

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.