Will Apple Earnings Be a Hit, or Miss the Mark?
Deutsche Bank’s Japan team issued some cautious comments about Apple’s (NASDAQ:AAPL) first-quarter performance. Combined with reports that Samsung (SSNLF.PK)could extend its lead in the smartphone market this year and general market pessimism, the news helped pull shares down as much as 2.3 percent early on Friday afternoon.
According to Street Insider, Deutsche Bank commented: “1Q 2013 (current quarter) production of electronic components and materials for Apple’s mobile products is exposed to major adjustment risk. This is the result of sales to end-2012 having not been as strong as expected.”
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But Deutsche Bank is not alone in its bearish year-end calls. Analysts from Citigroup have also expressed concerns about iPhone 5 sales based on information collected from suppliers. An analyst at Pacific Crest securities expressed concern that smartphone saturation will put breaks on sales volume. Some price targets have come in at just $400 per share.