Does Samsung's Latest Warning Spell Trouble For Apple?

In a statement on Monday, Samsung Electronics Co Ltd SSNLF said it projects a poor 2016 business environment due to a weakening global economy and increasing competition in the smartphone and chip markets.

According to Reuters, Samsung CEO Kwon Oh-hyun attributed part of the macroeconomic weakness to financial weakness in emerging markets.

Kwon's commentary certainly piques the interest of tech investors, particularly those invested in Samsung peer Apple Inc. AAPL. But does this bearish warning spell trouble for Apple investors?

JPMorgan analyst Rod Hall recently commented on the outlook.

"This underscores our own cautious stance on 2016 which we laid out in our December 17 outlook," Hall wrote in a new Tuesday note. A little over two weeks ago, Hall lowered his March quarter iPhone estimates by 8 percent, but said the stock is still "attractive" and warrants buying on any weakness.

Other Value Plays?

Though Hall's latest note confirms he still holds an Overweight rating on Apple shares, there could be a better sector for investors to consider. "We prefer telecom networking as a subsector though we also believe there are value opportunities with more consumer exposed stocks like Qualcomm," he added.

QUALCOMM, Inc. QCOM is trading slightly lower on Tuesday, and lost 30 percent in 2015.