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AAPL

Apple

$168.37

-6.37 (-3.65%)

07:56
12/10/18
12/10
07:56
12/10/18
07:56

Apple XR softness suggests troubles in 'pricing land,' says KeyBanc

KeyBanc analyst Andy Hargreaves says supply and demand checks suggest soft iPhone XR demand and a much larger tendency to trade down to older models than he expected. This prompts a shift to his mix assumptions and, more importantly, suggests Apple is hitting the limits of pricing power for a large portion of its user base, he contends. The analyst believes that this is likely to present a challenge to growth over a multi-year time frame that prevents him from a more positive opinion of the shares. Hargreaves reiterates a Sector Weight rating on the shares.

AAPL Apple
$168.37

-6.37 (-3.65%)

12/10/18
KEYB
12/10/18
DOWNGRADE
KEYB
Sector Weight
Skyworks downgraded to Sector Weight at KeyBanc on weakening smartphone demand
As previously reported, KeyBanc analyst Weston Twigg downgraded Skyworks (SWKS) to Sector Weight from Overweight given further weakening Apple (AAPL) iPhone demand trends, weaker than expected China smartphone demand, indications Qualcomm (QCOM) is finally gaining market share on RF360 amid transition to 5G in 2H19, and modest share lost in China smartphones to Qorvo (QRVO) this year as a result of RF Fusion phase 6 and signs of supply constraints at Skyworks. While the analyst believes Skyworks remains well positioned for 5G longer term and sees modest downside risk with the stock trading near trough valuation, Twigg struggles to see positive catalysts given the disappointing iPhone cycle and weakening demand environment for China smartphones.
12/10/18
12/10/18
DOWNGRADE

Sector Weight
Qorvo downgraded to Sector Weight at KeyBanc after demand checks
As previously reported, KeyBanc analyst Weston Twigg downgraded Qorvo (QRVO) to Sector Weight from Overweight given further weakening Apple (AAPL) iPhone demand trends, weaker than expected China smartphone demand, and indications Qualcomm (QCOM) is finally gaining market share on RF360 amid transition to 5G in 2H19. While the analyst believes Qorvo remains well positioned for 5G longer term and sees modest downside risk with the stock trading near trough valuation, Twigg struggles to see positive catalysts given the disappointing iPhone cycle and weakening demand environment for China smartphones. Overall, his quarterly Asia supply chain findings and demand checks left him incrementally more cautious on the semiconductor space.
12/07/18
OTRG
12/07/18
NO CHANGE
OTRG
Phone buyer sources point to cuts in Apple iPhone XR orders, says OTR Global
OTR Global said its checks indicate that smartphone buyers and managers at network operators, retailers and distributors in China, Europe and India have mostly reduced their 1Q19 orders for Apple's iPhone XR as sell-through in Q4 has fallen below expectations. 13 of 15 Asian sources reported oversupply for iPhone XR and 4 of 7 Chinese sources noted reduced iPhone XR retail prices, OTR added.
12/07/18
MSCO
12/07/18
NO CHANGE
Target $236
MSCO
Overweight
Apple price target lowered to $236 on China weakness at Morgan Stanley
Morgan Stanley analyst Katy Huberty lowered her FY19 iPhone units forecast to 200M from 213M after her recent meetings in Asia highlighted a weakening China smartphone market, especially at the high-end. However, her Google trends analysis suggests global demand for the new iPhones is holding up, at least relative to past cycles, after the XR launch in November, which leads her to conclude that iPhone revenue downside is "largely isolated to China." The analyst, who added that weak iPhone shipments on the back of lengthening replacement cycles doesn't translate to installed base and Services weakness, lowered her FY19 revenue forecast to $277B, or 4% year-over-year revenue growth. Huberty cut her price target on Apple shares to $236 from $253, but keeps an Overweight rating on the stock.

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SU

Suncor

$31.90

0.02 (0.06%)

17:32
11/13/19
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17:32
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Suncor increases share repurchase program by $500M »

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VRRM

Verra Mobility

$14.70

0.045 (0.31%)

17:24
11/13/19
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17:24
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17:24
Syndicate
Verra Mobility files to sell 15M shares of Class A common stock for holders »

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EQ

Equillium

$3.20

-0.19 (-5.60%)

17:22
11/13/19
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17:22
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17:22
Syndicate
Breaking Syndicate news story on Equillium »

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PAG

Penske Automotive

$51.36

0.015 (0.03%)

17:13
11/13/19
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17:13
Syndicate
Breaking Syndicate news story on Penske Automotive »

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LLY

Eli Lilly

$112.85

-0.31 (-0.27%)

17:12
11/13/19
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17:12
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17:12
Hot Stocks
FDA committee says benefits of empagliflozin do not outweigh risks »

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PRTH

Priority Technology

$3.24

-0.03 (-0.92%)

17:08
11/13/19
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17:08
Earnings
Priority Technology reports Q3 EPS (9c), one estimate (12c) »

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DPZ

Domino's Pizza

$279.24

1.185 (0.43%)

17:07
11/13/19
11/13
17:07
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17:07
Hot Stocks
Domino's Pizza's Goldman sells 2,486 common shares »

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WE

We Company

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

17:04
11/13/19
11/13
17:04
11/13/19
17:04
Periodicals
WeWork reported $1.25B loss in Q3, NY Times reports »

WeWork (WE) lost $1.25B…

WE

We Company

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

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GLYC

GlycoMimetics

$6.27

0.31 (5.20%)

17:02
11/13/19
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17:02
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17:02
Initiation
GlycoMimetics initiated  »

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BLK

BlackRock

$485.67

-1.24 (-0.25%)

17:00
11/13/19
11/13
17:00
11/13/19
17:00
Hot Stocks
BlackRock CFO sells nearly 4,000 common shares »

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  • 10

    Dec

ARVN

Arvinas

$28.35

1.85 (6.98%)

16:58
11/13/19
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16:58
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16:58
Initiation
Arvinas initiated  »

Arvinas initiated with a…

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FEYE

FireEye

$17.09

-0.04 (-0.23%)

16:57
11/13/19
11/13
16:57
11/13/19
16:57
Recommendations
FireEye analyst commentary  »

FireEye unique offering…

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  • 09

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CSCO

Cisco

$48.44

0.06 (0.12%)

16:54
11/13/19
11/13
16:54
11/13/19
16:54
Hot Stocks
Cisco says cyber security is a top priority for customers »

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JPM

JPMorgan

$128.49

-0.65 (-0.50%)

16:54
11/13/19
11/13
16:54
11/13/19
16:54
Periodicals
JPMorgan's new HQ plan clears path for another NYC tower, Bloomberg says »

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SIBN

SI-Bone

$17.88

0.14 (0.79%)

16:53
11/13/19
11/13
16:53
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16:53
Syndicate
Breaking Syndicate news story on SI-Bone »

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RLI

RLI Corp.

$97.43

0.78 (0.81%)

16:52
11/13/19
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Hot Stocks
RLI Corp. declares special cash dividend of $1.00 per share »

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  • 21

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CPA

Copa Holdings

$107.71

1.89 (1.79%)

16:52
11/13/19
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16:52
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16:52
Hot Stocks
Copa Holdings reports Q3 load factor up 1.4pts to 85.6% »

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XBIT

XBiotech

$11.42

0.18 (1.60%)

16:50
11/13/19
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16:50
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16:50
Recommendations
XBiotech analyst commentary  »

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AOBC

American Outdoor Brands

$7.90

0.22 (2.86%)

16:50
11/13/19
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Hot Stocks
Breaking Hot Stocks news story on American Outdoor Brands »

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CPA

Copa Holdings

$107.71

1.89 (1.79%)

16:48
11/13/19
11/13
16:48
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16:48
Earnings
Copa Holdings reports Q3 EPS $2.45, consensus $2.23 »

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IDXG

Interpace Diagnostics

$0.78

0.0001 (0.01%)

, CGIX

Cancer Genetics

$2.93

-0.2 (-6.39%)

16:48
11/13/19
11/13
16:48
11/13/19
16:48
Hot Stocks
Interpace Diagnostics changes name to Interpace Biosciences »

Interpace Diagnostics…

IDXG

Interpace Diagnostics

$0.78

0.0001 (0.01%)

CGIX

Cancer Genetics

$2.93

-0.2 (-6.39%)

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TPTX

Turning Point Therapeutics

$48.68

0.84 (1.76%)

16:46
11/13/19
11/13
16:46
11/13/19
16:46
Initiation
Turning Point Therapeutics initiated  »

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CBPO

China Biologic

$116.87

1.17 (1.01%)

16:46
11/13/19
11/13
16:46
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Earnings
China Biologic raises FY19 income growth outlook to 11%-13% from 4%-6% »

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CBPO

China Biologic

$116.87

1.17 (1.01%)

16:45
11/13/19
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11/13/19
16:45
Earnings
China Biologic reports Q3 adjusted EPS $1.40, one estimate 88c »

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IDXG

Interpace Diagnostics

$0.78

0.0001 (0.01%)

16:45
11/13/19
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16:45
Earnings
Breaking Earnings news story on Interpace Diagnostics »

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