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Goldman expects more Apple cuts

Published 01/03/2019, 07:39 AM
© Reuters.  Goldman expects more Apple cuts
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  • Goldman analyst Rod Hall says Apple (NASDAQ:AAPL) could cut its 2019 numbers beyond yesterday's Q1 warning "depending on the trajectory of Chinese demand."
  • Hall cuts his target from $182 to $140. His 2019 revenue estimate drops by 6% to $253B and EPS by 10% to $11.66.
  • The analyst compares Apple to Nokia (HE:NOKIA): "Nokia saw rapid expansion of replacement rates in late 2007 that was well beyond what any linear forecast would have implied."
  • Hall doesn't see strong evidence of a consumer slowdown outside of China, but he doesn't expect that situation to improve in March.
  • Apple shares are down 8.2% premarket to $144.97.
  • Previously: Apple cuts Q1 revenue guidance (Jan. 2)
  • Now read: Will Apple Beat Its Guidance?


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