Tag Archives: request

Apple Slices Below 200-Day On iPhone Production Cuts Report

Apple ( AAPL ) stock slid Friday on a report that it will continue its reduced production of iPhones in the April-June period in light of sluggish sales. Nikkei Asian Review said it learned of the extension of lower production from parts suppliers who were notified of the plan. Apple fell 2% to 109.85 on the stock market today , falling back below the 200-day moving average. Shares of Apple chip suppliers Broadcom ( AVGO ),  Cirrus Logic ( CRUS ) and Skyworks Solutions ( SWKS ) traded lower on the news. Broadcom lost 2.1% and Skyworks 2.2%, while Cirrus fell 0.4%. Apple has been dogged by reports of production cutbacks related to slow sales of its flagship iPhone 6S series smartphones. Apple lowered production for the January-March quarter by about 30% from the year-earlier period. And it decided to maintain the reduced output level in the current quarter, Nikkei Asia Review said . Apple has forecast its first year-over-year decline in iPhone unit sales for the March quarter. It is scheduled to report fiscal Q2 results on April 25. On Thursday, investment bank Canaccord Genuity predicted that iPhone sales will decline for three straight quarters before getting a boost from the iPhone 7 launch this fall. RELATED: How Much Will Apple Increase Its Dividend, Stock Buybacks?

Apple Won’t ‘Risk’ Intel iPhone 7 Chip; PC Woes Expected To Hurt Q1

Wall Street split Friday on Intel ‘s ( INTC ) shrouded PC future. At least one analyst hedged on Intel getting an Apple ( AAPL ) iPhone 7 chip win, as the No. 1 chipmaker prepares to unveil Q1 earnings after the close Tuesday. Intel stock was down a fraction in afternoon trading on the stock market today , near 32. Shares tanked 18% in January and early February on reports of more PC weakness , hitting a year-low 28.22 on Feb. 11. Since then, Intel stock has recovered 13%. For Q1, Intel is expected to report $13.86 billion in sales and 48 cents earnings per share, up a respective 8.5% and 17% from Q1 2015, per the consensus of 45 analysts polled by Thomson Reuters. Three months ago, Intel guided to $14 billion in sales, plus or minus $500 million. Pacific Crest analyst Michael McConnell and S&P Global Market Intelligence analyst Angelo Zino expect Intel to miss the midpoint of its guidance. And McConnell sees Intel cutting its full-year guidance. In January, Intel guided to mid- to high-single-digit sales growth over its $55.36 billion in 2015 sales. Zino notes, “The PC landscape appears to be softer than originally anticipated.” MKM analyst Ian Ing acknowledged Intel’s strong data center sales (about 30% of revenue) but expects Intel’s PC weakness “(to) more than offset strength in cloud computing.” He expects a flat Q2 for PC sales following a subseasonal Q1. But Zino sees Intel’s year-over-year PC losses becoming less pronounced exiting 2016, despite a likely challenging first half. Industry trackers IDC and Gartner predicted 11.5% and 9.6% PC shipment declines in Q1. “We see an aging PC landscape (over 600 million devices more than five years old), market share gains and new innovative devices supporting CCG (client computing group) revenue as the year progress,” Zino wrote in a research report. He reiterated his 39 price target on Intel stock. McConnell has a 35 price target and overweight rating on Intel stock. Ing maintained his buy rating but cut his price target to 38 from 40 on Intel stock. Intel has striven to get its chips inside the iPhone, and rumors recently circulated that Apple might tap the No. 1 chipmaker to source some of its iPhone 7 modems . Qualcomm ( QCOM ) has supplied the iPhone modem in the past four flagship smartphones. But Ing doubts that Apple would risk implementing an Intel chip. Teardowns show that Intel last supplied an iPhone chip in the 2008 iPhone 3G. “We retain some skepticism that Apple would add risk to their global launches,” he wrote in a report.

Noted Tech Editor Swisher Vows To Run For Mayor Of San Francisco

Re/code executive editor Kara Swisher has declared her intention to run for mayor in her home city of San Francisco. She says her 2023 bid for the position currently held by the embattled Edwin Lee — his 2016 inauguration was interrupted by protesters, for example — is sparked by a desire to shake up the political establishment. And she hopes to tackle the seemingly inexorable issue that Baghdad by the Bay struggles with: the divide between tech and the rest of the city. “Also this whole election cycle has struck a chord in me that I have always thought about, related to professional politicians and how we need to shift thinking about who should serve and the duty of citizens to be, you know, citizens,” she wrote in an email message to the San Francisco Chronicle. “There is an important and necessary role for good government and I hate this wholesale tearing down of it. “Also the increasing divide between tech sector and the city is something that I think a lot about. Not that I have solutions as yet.” She insisted to the Chronicle that her bid was serious — but doesn’t plan to run until 2023. The Re/code editor declined to comment to IBD. @chernandburn No! Podcasts and then my kid’s 11th birthday. Passel o’ tweens takes full attention (also why I would be a good mayor) — Kara Swisher (@karaswisher) April 15, 2016 Swisher is a longtime and one of the best-known Silicon Valley and tech journalists, providing definitive coverage of Yahoo ( YHOO ), among other firms. She began covering digital issues in 1997 for the Wall Street Journal. Her longtime spouse, Megan Smith — they are now separated — was once a high-ranking executive at Google, which is a unit of Alphabet ( GOOGL ), and is now the U.S. chief technology officer for the Obama administration.