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Apple shares predicting a beating on the analyst note soft summer iPhone X will take demand




Apple shares and the market both take a big hit after a notable analyst predicts in "in "Quarterly earnings report accompanied by forecasts for the June quarter is lower than what Wall Street currently anticipates.

  Tim Cook and Jony Ive with the iPhone X

"We expect Apple to announce an inline quarter of March," Katy Huberty of Morgan Stanley wrote in a note to investors on Friday as reported by CNBC reports. "But [we] are cautious on earnings on May 1 as we believe the consensus estimates for the June quarter must be revised down."

Huberty claims iPhone supplier checks and weak data surrounding the Chinese iPhone market are the foundations of their report.

However, Huberty still suggests that a discount is an opportunity to buy the stock and that the group would be "buyer at every weakness", provided that services continue to grow and Apple continues its share buyback program.

Morgan Stanley lowered its iPhone sales estimate to 34 million from 40.5 million in June. This is in contrast to the 43 million average forecasts of various Wall Street forecasters.

Huberty lowered her target price from $ 203 to $ 200 for the company's stock. At lunchtime on Friday, AAPL was priced at $ 166.87. The last time the stock was so low was April 2, when it closed the day at $ 166.68.

Apple CEO Tim Cook has historically warned Wall Street experts not to read too much in supply chain reviews.

"The supply chain is very complex and we obviously have multiple sources of things," Cook said in 2014, when he responded to reports of gloomy iPhone sales that were not true. "Even if a particular data point were factual, it would be impossible to interpret that data point as what it meant to our business."

Regardless of whether the predictions are right or wrong, investors are starting to fear after a series of reports. The reports predict yet another quarter for which Apple does not yet have to issue guidelines. CNBC 's Jim Cramer noted in the air on Friday morning that he would "care less about Apple after it reports".

Apple revenue and quarterly forecasts are on May 1.


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