Apple's Duo foldable is finally here! (sort of). Some early adopters (as always) are buying this "miserable fat little thing," but another (large) group of buyers are the scalpers who can sell them for 2x the original price. Why? Because Apple can't make enough of them in volume (reportedly only 60% yields according to their Chinese manufacturers). Problems with hinges & screens.
"But they (reviewers) panned its cramped front-facing screen, mediocre camera, clunky buttons and heavy weight."
I'm looking forward to hearing the complaints from the early adopters, but I'm even more excited to see Apple's Q3 results and Q4 guidance on Nov. 2. Anyone remember the Q2 debacle when Apple's numbers were weak and guidance disappointed? A $45 plunge over 2 days to $300. Apple's stock was hardly a "safe haven."
Moreover, Apple's Nov 2 numbers should be even worse. "Counterpoint Research said sales of this year’s iPhone Pro and Pro Max were up 3% compared with the same models last year in the first three weeks after launch, but overall sales fell." There were no lower-end iPhone models this year (they normally account for more than one-quarter of sales), so the fact that Pro models were only up 3% is an issue. Apple recently cut iPhone 18 orders to its suppliers by 10% to 15%. According to analysts, iPhone 18 Pro resale prices have gone to discounts earlier than a year ago and lead times have rapidly declined. Also, Apple reportedly has layoffs in the works. In the past, Apple layoffs were a "last resort."
IDC estimates Apple's Mac PC sales fell 11% year over year in Q3. They were up 13% in Q2.
U.S. App Store revenues (a problem in Q2) fell even more in Q3 (-7% Y/Y) per Sensor Tower data.
Then there are the margin problems from soaring semiconductor memory components (+400% in some cases) and other components. Doubtful that $100 price hikes will offset.
So, the highest valued (market cap) stock in the world (having overtaken Nvidia this A.M.) might be a bit of a problem on Nov. 2 (or before) for all the investors and speculators crowded into this "safe haven" at a $5 trillion market cap, 11 times sales and 39 P/E.