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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Apple's Virus Warning Takes Bite Out of Chip-Maker Stocks -- Update

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02/18/2020 | 04:55pm EDT

By Alexander Osipovich

Semiconductor stocks slid Tuesday, pummeled by Apple Inc.'s warning that its revenue would be hurt by China's coronavirus outbreak.

Broadcom Inc. fell 2.2%, Intel Corp. fell 1.7%, and Qualcomm Inc. fell 1.8%, while the S&P 500 was down 0.3%. Like many makers of computer chips, all three companies are Apple suppliers.

Shares of Qorvo Inc., a smaller firm that builds radio-frequency chips used by Apple, dropped 2.6%, while Cirrus Logic Inc., another Apple supplier, shed 3.2%. Shares of Apple itself were down 1.8%.

The iPhone maker said after markets closed Monday that it wouldn't meet its revenue targets for the current quarter, which it had just issued in January, before the full scale of the virus outbreak had become clear.

Apple said its iPhone manufacturing partners' facilities in China were returning to normal conditions more slowly than anticipated, even though they are located outside Hubei province, the epicenter of the outbreak. Apple also said demand for its products in China was proving weaker than expected, with its stores in the country closed and customer traffic reduced.

The virus has killed more than 1,800 people in China, and tens of millions of people have been put under quarantine as Chinese authorities seek to contain its spread.

Car manufacturers, retailers and airlines have all been affected by the outbreak, but the technology sector is likely to face some of the biggest disruptions due to the concentration of production in China. China represents more than 50% of the global technology supply chain, Credit Suisse analysts said in a research note.

Still, the Credit Suisse analysts projected that the drop in semiconductor stocks would be temporary. "We would recommend investors who can look into [the second half of 2020] and beyond should use weakness to accumulate best-in-class companies with a solid structural outlook," they wrote.

Write to Alexander Osipovich at alexander.osipovich@dowjones.com

 

Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -5.26% 240.91 Delayed Quote.-17.96%
BROADCOM INC. -5.68% 223.63 Delayed Quote.-29.24%
CIRRUS LOGIC, INC. -7.82% 60.5 Delayed Quote.-26.59%
CIRRUS NETWORKS HOLDINGS LIMITED 13.33% 0.017 End-of-day quote.0.00%
CREDIT SUISSE GROUP AG -5.48% 7.562 Delayed Quote.-42.30%
DJ INDUSTRIAL -4.44% 20943.51 Delayed Quote.-23.20%
INTEL CORPORATION -4.14% 51.88 Delayed Quote.-13.32%
NASDAQ 100 -4.19% 7486.286905 Delayed Quote.-13.11%
NASDAQ COMP. -4.41% 7360.581575 Delayed Quote.-16.39%
QORVO, INC. -7.50% 74.58 Delayed Quote.-35.83%
QUALCOMM -2.59% 65.9 Delayed Quote.-25.31%
S&P 500 -4.41% 2470.5 Delayed Quote.-20.00%
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Financials (USD)
Sales 2020 268 B
EBIT 2020 64 381 M
Net income 2020 55 231 M
Finance 2020 75 737 M
Yield 2020 1,33%
P/E ratio 2020 18,9x
P/E ratio 2021 15,9x
EV / Sales2020 3,65x
EV / Sales2021 3,21x
Capitalization 1 054 B
Chart APPLE INC.
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Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 309,92  $
Last Close Price 240,91  $
Spread / Highest target 53,9%
Spread / Average Target 28,6%
Spread / Lowest Target -19,1%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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1st jan.Capitalization (M$)
APPLE INC.-17.96%1 112 641
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WINGTECH TECHNOLOGY CO.,LTD-3.27%16 110
FITBIT, INC.1.37%1 767
MERRY ELECTRONICS CO., LTD.-1.58%859