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AAPL

Apple

$192.23

-1.925 (-0.99%)

06:07
11/14/18
11/14
06:07
11/14/18
06:07

Apple downgraded to Neutral from Buy at Guggenheim

  • 14

    Nov

AAPL Apple
$192.23

-1.925 (-0.99%)

11/14/18
UBSW
11/14/18
NO CHANGE
Target $225
UBSW
Neutral
UBS drops Apple price target to $225 from $240 on supply chain cuts
UBS analyst Timothy Arcuri lowered his estimates for Apple citing cuts in the company's supply chain. The analyst believes Apple in the past week has cut 6M-7M out of the original 63M build for new iPhone models, with the cut evenly split between the XS Max and XR models. On a net basis, however, this cut is slightly offset by a few million more older phones, Arcuri tells investors in a research note. The analyst's overall calendar Q4 estimate for iPhone units for sell-in go from 75M to 73.5M along with a slight reduction in average selling price. He also dropped his calendar Q1 unit estimate to 46.7M from 53.3M and Q2 estimate to 37.5M from 41.7M. The analyst notes that these cuts are "significantly" less than Lumentum's (LITE) negative preannouncement would imply and still a little less than the 10M implied by Qorvo (QRVO). Nonetheless, Arcuri thinks there is an "inventory component that is still negatively affecting the supply chain." The analyst dropped his price target for Apple to $225 from $240 while keeping a Buy rating on the shares. The iPhone maker closed yesterday down $1.94 to $192.23.
11/13/18
MKMP
11/13/18
NO CHANGE
Target $86
MKMP
After Qorvo warns, MKM says Apple risk 'largely' factored into supply chain
MKM Partners analyst Ruben Roy noted that Qorvo (QRVO) followed Lumentum (LITE) in reducing its December quarter outlook due to recent demand forecast changes for Apple's (AAPL) iPhone. He also noted that Qorvo expects March quarter revenues to be down less than 10%, sequentially, which he points out is better than the seasonal declines in the previous two fiscal years and likely due to content increases across a number of upcoming Samsung handsets. Roy said he remains positive on Qorvo given his continued expectations for market share gains, but lowered his price target on the stock to $86 from $95. In terms of other Apple supply chain companies, he believes that Skyworks' (SWKS) guidance likely considered the demand changes at Apple, but thinks Cirrus Logic (CRUS) provided December quarter guidance ahead of Apple changes. Roy also notes that Broadcom (AVGO) will report on December 6. While seeing some risk to near-term wireless estimates, Roy concluded that he believes Apple risk is "largely incorporated" into supply chain expectations at this point.
11/13/18
JPMS
11/13/18
NO CHANGE
JPMS
Overweight
JPMorgan sees 'significant upside' in Qorvo shares as expectations reset
JPMorgan analyst Bill Peterson notes that following other announced cuts in the Apple (AAPL) supply chain, Qorvo (QRVO) also reset near-term revenue expectations as a result of lower demand from Apple. The analyst believes that not only is Qorvo seeing weaker unit demand, but likely is seeing reduced demand for the iPhone XR model in particular. Nonetheless, Peterson expects Qorvo to outperform through his modeling period on content gains in mobile, broad-based across smartphone makers, compensating for weaker smartphone unit demand and on strong double-digit percentage year over year revenue growth in non-mobile on infrastructure, 5G, and GaN. As expectations have been reset, and with investors becoming more comfortable with the content growth story in mobile and outsized growth in non-mobile, the analyst sees "significant upside" in Qorvo shares over the mid-term, and reiterates an Overweight rating on the stock.
11/13/18
KEYB
11/13/18
NO CHANGE
Target $80
KEYB
Overweight
Qorvo price target lowered to $80 from $95 at KeyBanc
KeyBanc analyst John Vinh noted that Qorvo (QRVO) lowered its Q3 outlook due to recent iPhone demand changes, which he believes is largely related to disappointing demand for Apple's (AAPL) iPhone XR. He lowered his Qorvo estimates and cut his price target on the stock to $80 from $95, but keeps an Overweight rating on Qorvo shares, citing his belief that the company will benefit from RF content gain during the 5G transition.

TODAY'S FREE FLY STORIES

09:57
08/21/19
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09:57
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09:57
Conference/Events
The Food & Drug Law Institute to hold a webinar »

Anthony Anscombe, Partner…

GLD

SPDR Gold Shares

$141.65

-0.56 (-0.39%)

09:56
08/21/19
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TGT

Target

$99.51

13.935 (16.28%)

, LOW

Lowe's

$109.03

10.985 (11.20%)

09:55
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Early notable gainers among liquid option names on August 21st »

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TGT

Target

$99.51

13.935 (16.28%)

LOW

Lowe's

$109.03

10.985 (11.20%)

BBBY

Bed Bath & Beyond

$8.06

0.32 (4.13%)

URBN

Urban Outfitters

$21.97

1.04 (4.97%)

PCG

PG&E

$11.67

0.04 (0.34%)

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GNTX

Gentex

$26.73

0.26 (0.98%)

09:55
08/21/19
08/21
09:55
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09:55
Conference/Events
Gentex to hold analyst and investor day »

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  • 21

    Aug

DKS

Dick's Sporting

$32.70

0.35 (1.08%)

, AOBC

American Outdoor Brands

$7.61

(0.00%)

09:54
08/21/19
08/21
09:54
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09:54
Periodicals
Dick's Sporting testing if company should stop selling guns, CNN reports »

Dick's Sporting…

DKS

Dick's Sporting

$32.70

0.35 (1.08%)

AOBC

American Outdoor Brands

$7.61

(0.00%)

RGR

Sturm, Ruger

$40.73

(0.00%)

VSTO

Vista Outdoor

$4.90

(0.00%)

03/08/13
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03/08/13
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  • 19

    Sep

EADSY

Airbus

$0.00

(0.00%)

, GE

General Electric

$8.37

-0.02 (-0.24%)

09:51
08/21/19
08/21
09:51
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09:51
Periodicals
Engine Alliance to order checks after 2017 A380 engine explosion, Reuters says »

Investigators examining…

EADSY

Airbus

$0.00

(0.00%)

GE

General Electric

$8.37

-0.02 (-0.24%)

UTX

United Technologies

$127.63

0.96 (0.76%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 29

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  • 03

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  • 09

    Sep

  • 30

    Oct

09:50
08/21/19
08/21
09:50
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09:50
General news
U.S. existing home sales preview: »

U.S. existing home sales…

09:50
08/21/19
08/21
09:50
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09:50
General news
Oil Action: WTI crude »

Oil Action: WTI crude…

MSGN

MSG Networks

$15.67

-1.18 (-7.00%)

09:48
08/21/19
08/21
09:48
08/21/19
09:48
Downgrade
MSG Networks rating change  »

MSG Networks downgraded…

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  • 21

    Aug

AFL

Aflac

$50.29

-1.57 (-3.03%)

09:48
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08/21
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09:48
Periodicals
Aflac cancer insurance policies mis-sold by Japan Post, The Mainichi reports »

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UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$29.42

-2.08 (-6.60%)

09:47
08/21/19
08/21
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08/21/19
09:47
Hot Stocks
ProShares Trust Ultra VIX Short Term Futures ETF falls -6.7% »

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MSGN

MSG Networks

$15.67

-1.18 (-7.00%)

09:47
08/21/19
08/21
09:47
08/21/19
09:47
Hot Stocks
MSG Networks falls -6.8% »

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  • 21

    Aug

JMIA

Jumia Technologies

$12.03

-2.66 (-18.11%)

09:47
08/21/19
08/21
09:47
08/21/19
09:47
Hot Stocks
Jumia Technologies falls -17.8% »

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  • 21

    Aug

GSX

GSX Techedu

$15.66

1.01 (6.89%)

09:47
08/21/19
08/21
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08/21/19
09:47
Hot Stocks
GSX Techedu rises 6.9% »

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  • 22

    Aug

LOW

Lowe's

$109.52

11.48 (11.71%)

09:47
08/21/19
08/21
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Lowe's rises 12.0% »

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  • 21

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TGT

Target

$98.54

12.965 (15.15%)

09:47
08/21/19
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Target rises 15.2% »

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  • 21

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WKHS

Workhorse Group

$3.80

0.165 (4.54%)

, GM

General Motors

$37.28

0.32 (0.87%)

09:46
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Hot Stocks
Workhorse Group up 9% in early trading »

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WKHS

Workhorse Group

$3.80

0.165 (4.54%)

GM

General Motors

$37.28

0.32 (0.87%)

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  • 13

    Nov

09:45
08/21/19
08/21
09:45
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General news
Existing Home Sales to be reported at 10:00 »

July Existing Home Sales…

KSS

Kohl's

$44.87

(0.00%)

09:42
08/21/19
08/21
09:42
08/21/19
09:42
Recommendations
Kohl's analyst commentary at Guggenheim »

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AAPL

Apple

$210.35

(0.00%)

, AMGN

Amgen

$203.15

(0.00%)

09:41
08/21/19
08/21
09:41
08/21/19
09:41
Periodicals
Apple, Amgen, Cisco all slowed buyback spending in Q2, WSJ says »

S&P Dow Jones Indices…

AAPL

Apple

$210.35

(0.00%)

AMGN

Amgen

$203.15

(0.00%)

CSCO

Cisco

$47.94

(0.00%)

BAC

Bank of America

$26.72

(0.00%)

ORCL

Oracle

$53.00

(0.00%)

JPM

JPMorgan

$107.33

(0.00%)

WFC

Wells Fargo

$44.70

(0.00%)

MSFT

Microsoft

$137.25

(0.00%)

JCI

Johnson Controls

$42.34

(0.00%)

GOOGL

Alphabet Class A

$1,184.26

(0.00%)

GOOG

Alphabet

$1,183.43

(0.00%)

C

Citi

$63.44

(0.00%)

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    Nov

URBN

Urban Outfitters

$20.93

(0.00%)

, LOW

Lowe's

$98.04

(0.00%)

09:40
08/21/19
08/21
09:40
08/21/19
09:40
Options
Unusually active option classes on open August 21st »

Unusual total active…

URBN

Urban Outfitters

$20.93

(0.00%)

LOW

Lowe's

$98.04

(0.00%)

PDD

Pinduoduo

$25.97

(0.00%)

FIT

Fitbit

$2.94

(0.00%)

FCX

Freeport McMoRan

$9.19

(0.00%)

HD

Home Depot

$217.14

(0.00%)

TLRY

Tilray

$29.30

(0.00%)

RIG

Transocean

$4.58

(0.00%)

XBI

SPDR S&P BIOTECH

$82.47

(0.00%)

SPX

S&P 500

$0.00

(0.00%)

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    Nov

CLR

Continental Resources

$30.57

-0.65 (-2.08%)

09:39
08/21/19
08/21
09:39
08/21/19
09:39
Recommendations
Continental Resources analyst commentary  »

Continental Resources…

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NVRO

Nevro

$82.98

2.13 (2.63%)

09:37
08/21/19
08/21
09:37
08/21/19
09:37
Conference/Events
Nevro participates in a conference call with SVB Leerink »

SVB Leerink holds a…

03/08/13
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  • 26

    Aug

  • 09

    Sep

TGT

Target

$85.57

-0.34 (-0.40%)

09:36
08/21/19
08/21
09:36
08/21/19
09:36
Options
Pre-earnings call sale in Target turns ugly as shares jump »

Pre-earnings call sale in…

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PAVM

PAVmed

$1.00

(0.00%)

09:33
08/21/19
08/21
09:33
08/21/19
09:33
Hot Stocks
PAVmed announces issuance of U.S. patent »

PAVmed announced that the…

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