Nomura Instinet cuts estimates on U.S.-China trade skirmish

“Nomura Instinet lowered its price target on Apple shares to $175 from $180 on Friday, citing a coming ‘trade strain’ on the company’s earnings,” Michael Sheetz reports for CNBC.
“‘The renewal of China trade tensions are a likely near-term negative for Apple,’ Nomura analyst Jeffrey Kvaal said in a note to investors” Sheetz reports. “‘A 25% tariff on device imports a pain any way they slice it,’ [Kvaal said].”
Sheetz reports, “Nomura Instinet reduced its estimate for Apple’s 2019 earnings to $11.39 a share, down from $11.50 a share.”
Read more in the full article here.
MacDailyNews Take: Ooh, 11 whole cents sliced off based on a worst case scenario. M’kay.
People tend to fear the worst. It almost never happens. – MacDailyNews, May 14, 2019
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