Apple slips on overblown iPhone remark; iPod ramp in September?
Shares of Apple Inc. took a substantial hit Tuesday morning after an unofficial analyst comment on iPhone production was blown out of proportion during a swift game of Wall Street telephone tag. Meanwhile, an overseas report claims Apple plans to ramp production of a new iPhone model this September.
Apple skids on one-off analyst comment
Apple shares slipped more than $5.00 or 3.5 percent in early morning trading on the Nasdaq stock market after TheStreet.com reported on a research note from Miller Tabak which allegedly asserted that Apple was reducing its production of iPhones from "9 million units to 4.5 million units.Â?
However, Miller Tabak analyst Peter Boockvar later told AppleInsider that his firm authored no such note on Apple. Instead, he said, gossip was passed alongÂ*during a conversation and was subsequently overblown.
"Disregard it. There's no note on Apple today," Boockvar said. "It's pure noise."
iPod ramp in September
Taiwan-based Compeq Manufacturing will start producing rigid-flex printed circuit boards (PCBs) for a new line of Apple iPods due for production ramp in the September time frame, according to DigiTimes.
Rigid-flex circuit boards use a combination of flexible and rigid substrates laminated into a single package, presenting a 3D interconnect that can be bent, folded, and mutilated into a higher performing PCB. The technology allows electronics designers to replace multiple PCBs interconnected with connectors, wires and ribbon cables with a single package offering improved performance and reliability.
Additionally, Compeq is said to have received validation for high density interconnect (HDI) and rigid-flex PCBs for handheld models that will become part of Apple's iPhone series.
While DigiTimes offered no additional details on the iPhone model, it cited industry sources in saying iPod production would begin in small volumes this August, with shipments ramping up in September.
Apple skids on one-off analyst comment
Apple shares slipped more than $5.00 or 3.5 percent in early morning trading on the Nasdaq stock market after TheStreet.com reported on a research note from Miller Tabak which allegedly asserted that Apple was reducing its production of iPhones from "9 million units to 4.5 million units.Â?
However, Miller Tabak analyst Peter Boockvar later told AppleInsider that his firm authored no such note on Apple. Instead, he said, gossip was passed alongÂ*during a conversation and was subsequently overblown.
"Disregard it. There's no note on Apple today," Boockvar said. "It's pure noise."
iPod ramp in September
Taiwan-based Compeq Manufacturing will start producing rigid-flex printed circuit boards (PCBs) for a new line of Apple iPods due for production ramp in the September time frame, according to DigiTimes.
Rigid-flex circuit boards use a combination of flexible and rigid substrates laminated into a single package, presenting a 3D interconnect that can be bent, folded, and mutilated into a higher performing PCB. The technology allows electronics designers to replace multiple PCBs interconnected with connectors, wires and ribbon cables with a single package offering improved performance and reliability.
Additionally, Compeq is said to have received validation for high density interconnect (HDI) and rigid-flex PCBs for handheld models that will become part of Apple's iPhone series.
While DigiTimes offered no additional details on the iPhone model, it cited industry sources in saying iPod production would begin in small volumes this August, with shipments ramping up in September.
Comments
Stupid knee-jerk "investors."
You say "stupid", but taking your profit may be smart.
Someone cook these a**holes please.
How high is the ramp?
I imagine it's at least this high:
of course this was all due to a flurry of iphone hype.
the iphone is here. it looks like the sales have started to trail off (this is what could be inferred from Verizon's conferrence call about losing customers to AT&T).
the iphone being a huge success is already priced (in my opinion overpriced) into apple's stock.
i see a major lack of news between now and the fall (when apple should begin to pick up due to seasonal sales up swing)... sure new imacs (overall, desktops are only 1/4 of apple's sales) and new ipods (which are rumored not to be widescreens ala the iphone)... i dunno i don't see any real surprises pumping up the stock.
of course there is the continued growth story about apple selling more computers but this is already priced into the stock.
are you sure you want to buy apple now?
Kramer up to his old tricks again?
Buy on dip (sh*t).
m
So does this mean a Libel suit: Apple vs. TheStreet?
Someone cook these a**holes please.
Don't you mean slander?
Slander=spoken
Libel=written
But I agree with your point though.
Eminem should sue.
But the skittishness/nervousness on Apple is the larger story here: As I have said before, this is the kind of volatility that we simply have to learn to live with in the new, post-iPhone world until the dust settles somewhat on what this new product means for AAPL's cash flows in the future.
Think of it, cut iphone from 9 to 4.5 million over what period, come on apple stated 10 million in 18 months, why would they cut product forcasts by 50% 6 months to a year ahead based on only 3 or 4 weeks of sales, unless the blew the load in 2 or 4 days and no one has bought a iphone since.
I am long on Apple and not interested in even taking a little profit at this time, let it ride and roller coaster is fun.
Eminem should sue.
drjjones should sue
Now he can't afford a lawyer.
These analysts are putting out FUD so to take opportunites to pull the stock back so they can convince their investors to buy. This is not the first time this has happen, other analysts in the past who no one ever heard of in the past all of a suddent comes out with news that no one else has and the stock falls and you never hear from them again.
Think of it, cut iphone from 9 to 4.5 million over what period, come on apple stated 10 million in 18 months, why would they cut product forcasts by 50% 6 months to a year ahead based on only 3 or 4 weeks of sales, unless the blew the load in 2 or 4 days and no one has bought a iphone since.
I am long on Apple and not interested in even taking a little profit at this time, let it ride and roller coaster is fun.
The other thing is the analyst you've never heard of saying that Apple sold a million iPhones in the first 24 hours and other stuff which wasn't true. There was a lot of false information about the iPhone which escalated the price of the stock. I see it going down some more because it is very unstable right now, going up and down 3 to 5 percent every day. I think it will even out somewhat close to what it was a few months ago at some point once longer term news for Apple comes out.
I see it going down some more because it is very unstable right now, going up and down 3 to 5 percent every day. I think it will even out somewhat close to what it was a few months ago at some point once longer term news for Apple comes out.
If you look at the lows (red) the trend line says we are about on track. The upside looks kind of interesting.