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Here's what every major Wall Street analyst thinks of Apple's sudden warning on iPhone sales


Apple
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Macquarie
Oppenheimer
EPS
PO
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Cook & Co.
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Jefferies
Macquarie
% y/y
FY1Q19


Chinese


Asia
Greater China


20E


China
PO
C2019
US
U.S.

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Positivity     41.00%   
   Negativity   59.00%
The New York Times
SOURCE: https://www.cnbc.com/2019/01/03/wall-street-on-apple-after-warning-on-iphones-sales-and-china.html
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Summary

"Apple's business in China appears to be rapidly deteriorating.""The bottom line is that we are late (obviously), but we can no longer recommend Apple," Macquarie said.Oppenheimer said that the firm believes Apple's announcement "raises more questions than answers.""We remain solidly on the sideline as we continue to believe investors are not pricing in longer-term risks," Oppenheimer said.Apple stock fell 7.6 percent in premarket trading from Wednesday's close of $157.92 a share.Here's what major Wall Street analysts were saying about Apple:While no one is likely to be surprised by Apple's December quarter miss, the magnitude of the fall-off in iPhones (14% in revenue terms) is likely worse than most expected. Fears about iPhone have been confirmed, uncertainty about the severity and duration of iPhone troubles will linger, and the other shoe is about to drop on Services growth, particularly for its highest margin drivers.What we want to learn more about on the FY1Q19 earnings call is: 1) causes and longterm implications (including brand damage) of the precipitous China slowdown during December; 2) how much friction AAPL's aggressive pricing strategy is causing; and, 3) the impact of trade politics on the business results of AAPL and other global US companies.Last night Apple delivered a bombshell negative preannouncement that will be a defining moment for Cook & Co. for years to come. Although the company had some soft quarters over the past 20 years that missed Street expectations, in the modern iPhone era last night was clearly Apple's darkest day in our opinion and represents a challenging growth period ahead for the company (and its investors).We are lowering our estimates and target price following the negative preannouncement issued by Apple for the December quarter. While weaker-than-expected iPhone results have been widely anticipated since November (we think street expectations were still in the low-70M unit range; we now estimate a mid-60M iPhone ship estimate), our industry checks leave us to believe that demand weakness, coupled with channel inventory burn-off, could persist for a few quarters.Weak iPhone demand largely in China drove a large F1Q sales miss. China uncertainty could remain an overhang, though driven by the strength of the broader eco-system, continued strong free cash flow and services strength, we believe shares should prove attractive on the latest weakness for long-term investors.Apple preannounced a significant revenue miss for the December quarter, their first miss in recent memory, driven entirely by lower than expected iPhone sales.

As said here by Michael Sheetz