Apple Shares Slide After Credit Suisse Reports Plunge In China Iphone Shipments
Apple (AAPL) shares were already sliding in the pre-market session as tariff fears re-emerged but a report from Credit Suisse that iPhone shipments fell meaningfully in November sparked considerably more selling pressure.
In fact, CS says iPhone shipments in China dropped a shocking 35.4% YoY in November (following a 10.3% YoY drop in October). This compares to a 0.2% increase in the broader regional smartphone market. Additionally, CS reports that total shipments in China are now down 7.4% since the launch of the iPhone 11 line.
Luckily, Apple stopped reporting iPhone unit sales so this will soon be forgotten (or not).
(Click on image to enlarge)
Time for some more buybacks Tim?!
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