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Apple’s Woes Have a Ripple Effect

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By Douglas A. McIntyre Published
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iPhone_5_FrontBack
courtesy of Apple Inc.
Apple Inc.’s (NASDAQ: AAPL) problems have rippled to its Asia components suppliers. Shares in many of these fell in anticipation of weak earnings from the American consumer electronics giant. Apple’s forecast that its current quarter will be lackluster only made the outlook for these companies worse.

MarketWatch says about Apple’s Asian suppliers:

Analysts at Barclays on Wednesday downgraded four key hardware stocks from Taiwan after Apple Inc.’s sales guidance for the second quarter came in below expectations.

The research firm cut its recommendation on shares of Largan Precision Co. and Cheng Uei Precision Industry Co. to equal-weight, and on Foxconn Technology Co. and Simplo Technology Co. to underweight. All four stocks were previously rated overweight. The downgrade follows similar recent downgrades for Hon Hai Precision Industry Co. and Quanta Computer Inc.

Although iPhone and iPad orders should be weak in the second quarter of 2013 from “product transitions, we believe that without a larger-size iPhone, sell-through might be uncertain for the rest of 2013 as well,” Barclays analysts led by Kirk Yang wrote in a report.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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