FYI: Most of the pain has come since Nov. 1, when Apple said it would no longer be reporting unit sales for its iPhone, iPad, and Mac devices.
The announcement rattled investors, who have long focused on iPhone sales, often to the exclusion of everything else. A wave of Wall Street downgrades has hit Apple stock in recent weeks.
“Apple’s iconic hardware unit growth is broadly over for now,” HSBC analyst Erwan Rambourg wrote last week in downgrading Apple shares to Hold from Buy.
Apple fed the narrative by pulling back on its unit sales disclosures. “The company is, for some reason, trying to shift the investor mind-set to revenues,” says Barry Gill, head of active equities at UBS .
Regards,
Ted
https://www.barrons.com/articles/the-promising-business-that-could-pull-apple-out-of-its-tailspin-1544234249
