THE REAL REASON APPLE IS FALLING $AAPL $JBL $CHL
Wednesday was supposed to be the glory day for Apple. After seven years of negotiations, China Mobile was supposed to announce an agreement to carry Apple’s iPhone. So far, there is no announcement, but the announcement may come later. The real reason Apple is falling is not China Mobile, but an earnings report from Apple supplier Jabil Circuit. Jabil makes moldings for Apple iPhones.
Jabil’s JBL earnings report was awful. Jabil sees second-quarter EPS of $0.05 to $0.15 vs. a consensus of $0.52; sees revenue of $3.5 billion to $3.7 billion vs. a consensus of $4.28 billion. Jabil stock has responded by falling about 21% and hitting a fresh new 52-week low at a time when most stocks are hitting 52-week highs.… Please click here or the title below to read more.