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AAPL

Apple

$279.88

4.65 (1.69%)

07:05
12/17/19
12/17
07:05
12/17/19
07:05

Apple's China iPhone sales seen down 30% in November at Rosenblatt

Rosenblatt analyst Jun Zhang said his recent channel checks lead him to believe Apple's total iPhone sales in China were down about 30% year-over-year in November as he thinks consumers there are buying the cheaper iPhone 11 over the iPhone 11 Pro and all older models. Zhang added that he estimates overall iPhone production will drop 40%-45% quarter-over-quarter in March and he sees more production cuts coming as Apple sees increasing headwinds from aggressive 5G smartphone launches, and 5G service promotions, in China. Zhang keeps a Sell rating and $150 price target on Apple shares.

AAPL Apple
$279.88

4.65 (1.69%)

12/12/19
FBCO
12/12/19
NO CHANGE
Target $221
FBCO
Neutral
Apple iPhone shipments declined 'meaningfully' in November, says Credit Suisse
Credit Suisse analyst Matthew Cabral says China iPhone shipments declined "meaningfully" in November, falling 35.4% in the month and lagging the 0.2% y/y increase in the broader Chinese smartphone market. In addition to weaker overall units, Cabral says the popularity of the lower-priced iPhone 11 and its 15% y/y RMB price cut at launch likely adds further pressure to Apple's Greater China sales. Factoring in the decline in ASPs, Cabral estimates China iPhone revenue fell by greater than 17.5% y/y over the past three months. The analyst keeps a Neutral rating and $221 price target on Apple shares.
12/13/19
ARGS
12/13/19
INITIATION
ARGS
Hold
ViacomCBS initiated with a Hold at Argus
Argus analyst Joseph Bonner initiated coverage of ViacomCBS (VIAC) with a Hold rating after the two companies completed their merger on December 4th. The analyst notes that the acquisition of Viacom may have been "cheap", but CBS is now saddled with its "unevenly performing" basic cable channels while questioning whether the forces of cord cutting and rising digital distribution can be overcome by combining the assets of the two companies. Bonner further states that even post merger, ViacomCBS may lack the size to compete with Disney (DIS) or Apple (AAPL) and may need to do more M&A to gain sufficient scale.
12/13/19
MSCO
12/13/19
NO CHANGE
MSCO
Overweight
Worries about iPhone weakness in China look overblown, says Morgan Stanley
Morgan Stanley analyst Katy Huberty noted that China's Academy of Information and Communications Technology reported 33.4M total smartphone shipments in November, including Android-based smartphone shipments of 30.5M, which implies that "non-Android" smartphone shipments, in other words iPhone shipments, fell 35.4% year-over-year last month. While she agrees with the view that iPhone demand in China looks weaker relative to the September quarter based on her installed base market share data, she doesn't believe the November data represents a normalized run-rate in light of the timing of product launches. Huberty, who said China monthly smartphone data is volatile and is impacted by a number of factors, cautions investors against extrapolating China iPhone data points and contends that concerns about China iPhone weakness look overblown. She keeps an Overweight rating on Apple shares.
12/13/19
SUSQ
12/13/19
NO CHANGE
Target $60
SUSQ
Neutral
Susquehanna boosts Synaptics target to $60 on potential Apple win
Susquehanna analyst Christopher Rolland raised his price target for Synaptics (SYNA) to $60 from $46 while maintaining a Neutral rating on the shares. Broadcom (AVGO) last night disclosed the loss of a "mixed signal custom product" from its "largest customer," which is Apple (AAPL), Rolland tells investors in a research note. While this could mean wireless charging, the analyst thinks it is more likely the touch controller. It is well rumored that Apple is attempting to move to flexible OLED displays in its next-generation iPhones, Rolland says. This "ties in well" with Synaptics' commentary about a recent win at Huawei and the challenges the company is "uniquely" able to address with its latest touch controllers, contends the analyst.

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MSM

MSC Industrial

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FB

Facebook

$222.01

0.23 (0.10%)

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SPY

SPDR S&P 500 ETF Trust

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1.08 (0.33%)

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

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TSLA

Tesla

$510.34

-3.065 (-0.60%)

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JPM

JPMorgan

$138.15

0.89 (0.65%)

, BNPQY

BNP Paribas

$0.00

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JPMorgan

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BNP Paribas

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BAC

Bank of America

$34.70

-0.03 (-0.09%)

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CEL

Cellcom Israel

$3.18

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VRCA

Verrica Pharmaceuticals

$15.94

0.21 (1.34%)

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SO

Southern Company

$67.25

1.08 (1.63%)

, XEL

Xcel Energy

$65.38

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Xcel Energy

$65.38

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LIZI

Lizhi

$11.72

(0.00%)

, DNK

Phoenix Tree

$13.50

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I-MAB

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Casper Sleep

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TLGT

Teligent

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AYTU

Aytu BioScience

$0.80

0.0014 (0.18%)

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DVA

DaVita

$79.45

0.43 (0.54%)

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  • 23

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TSM

TSMC

$58.58

-0.18 (-0.31%)

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KKR

KKR

$31.20

0.7 (2.30%)

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Apollo Global

$50.35

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