Apple Inc. AAPL hit a new 52-week low of $142.08 Thursday after the company revised its December-ending quarter guidance to the downside. Here's how top technology experts and analysts were reacting to the announcement.
Zoe Financial CEO: Chinese Consumers Are Different
One overlooked aspect of the Apple conversation is the different way in which Chinese consumers use their smartphones, Zoe Financial CEO Andres Garcia-Amaya told CNBC Thursday.
A typical Chinese consumer uses very few apps on their smartphone, with the most notable one being WeCha,t which is "used for everything," Garcia-Amaya said. Chinese consumers can easily change from an iPhone to an Android device, and this trend could continue unless Apple starts to offer real innovation, he said.
Recode's Swisher: Where's The Excitement?
Apple's earnings caution is mostly attributed to China, but Recode's Kara Swisher told CNBC Wednesday that part of Apple's problem is a lack of new and exciting products.
The innovation cycle has "slowed down," and Apple is left with products that are no longer "exciting," with no indication a new hit product is in the pipeline, she said.
Apple CEO Tim Cook discussed future features with Swisher recently, she said, including augmented reality. But she said it's unclear when those features will be introduced.
Radio Free Mobile's Windsor: No One Can Challenge Apple
Radio Free Mobile founder Richard Windsor told CNBC that Apple's stock has been steadily declining over the past few months, so a certain element of the company's guidance revision was already priced into shares. Many Street analysts remain bullish on Apple, and Windsor said this could be a result of Apple's dominance in the high-end smartphone market being virtually unchallenged.
Cupertino should be able to maintain its market share, Windsor said, adding that the company will "just sell less phones in a mature and less predictable market."
Will Buffett Buy The Dip?
Billionaire investor and major Apple shareholder Warren Buffett, CEO of Berkshire Hathaway Inbc. (NYSE: BRK-A) (NYSE: BRK-B), said in a CNBC interview in 2018 he would like to buy Apple's stock at a cheaper price.
Brian Kelly, founder and CEO of BKCM, said during CNBC's "Fast Money" segment Wednesday that Buffett's right-hand man Charlie Munger was upset that Buffett wasn't more aggressive in buying Apple shares.
Buffett could turn "greedy when others are fearful" near the $136 level, which marked the beginning of Apple's stock breaking out in early 2017, Kelly said.
Related Links:
Warren Buffett Talks Apple, Campbell Soup And Elon Musk
'Jaw-Dropping': Wall Street Reacts To Apple's Guidance Cut, China Business
Photo courtesy of Apple.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.