I'm skeptical, to say the least, of a report originally in the Chinese language Economic Daily News, and now re-printed by Digitimes detailing an iPhone shipment slowdown by Apple. The story says Apple has lowered its projected shipments of iPhones from 2 million units to around 1 million or 1.2 million for its fiscal second quarter ending march 2008.
It could've been much worse, especially in the crazy climate we're seeing on Wall Street. On the day the company announces CEO Meg Whitman's retirement, on a day when there was so much optimism about eBay's fourth quarter earnings, and on a day when the Street finally began to turn things around, eBay beats earnings expectations on the top and bottom lines
eBay is one of the net's four horsemen, ushering in a spate of online earnings after the bell today, and coming a week ahead of Yahoo (next Tuesday); Amazon (next Wednesday); and Google (next Thursday.) So eBay's earnings will put the entire sector under the spotlight.
Apple Inc.'s earnings are always a big-time financial event, but this time, the company's numbers will be followed more closely than ever before. Why? Worries about a recession, concerns over a lackluster holiday shopping season, insecurity about how the company's products are selling.
IBM on Thursday forecast 2008 earnings well ahead of Wall Street expectations after results showing a strong international performance, and its shares jumped 5 percent.
Google shares continue to slide, and this is getting ugly. The question investors and the Street are asking is how low these shares can go? The Google chart is as ugly as it's ever been. No real surprise in some respects since many of the biggest names in big-cap tech have been torpedoed along with the rest of the market.
Seems I struck a nerve with some Intel investors reading this morning's post on the company's steep decline following yesterday's earnings. Here's a taste: Bill Jameson writes, "Felt the same way. Nice report."
Ouch. There's really no other way to summarize Intel's earnings, and there's little question that Intel's softness took Wall Street by surprise. Just look at the shellacking these shares are taking today. But is the selloff warranted, or -- like so many other moves to the downside in recent weeks among the top names in tech -- is the Intel drubbing overdone?