Samsung stock down on news it may ship 20 million fewer Galaxy S4 smartphones
Posted by: Tim Tibbetts on 06/07/2013 07:50 AM [ Comments ]
Despite news that Samsung is on track to ship 10 million Galaxy S4's and other reports, Wall Street isn't so sure.
Cnet is reporting that Samsung's shares were down 6.2 percent on Friday, representing their largest drop since August. The drop was due to analysts worrying about flagging demand for the Galaxy S4. JP Morgan was among the analysts that expressed concern with Samsung, and cut its share-price estimate by 9.5 percent.
In a note to investors, JJ Park at JP Morgan said that supply chain checks are showing "disappointing" numbers in second quarter shipments, adding that they're "way below our previous estimates." JP Morgan had expected Samsung to ship 80 million Galaxy S4 units this year. It now believes that figure will be closer to 60 million.
Of course, this is from Wall Street guys so take it for what its worth. After all, they are the ones who "estimated" how many S4 phones would ship so for the target to miss it's point is only to say that they made a bad guess to begin with.
Let me try my hand at this stock thing. Samsung is going nowhere. Buy it while its down.
Hey, this stock analyst crap is easy!
In a note to investors, JJ Park at JP Morgan said that supply chain checks are showing "disappointing" numbers in second quarter shipments, adding that they're "way below our previous estimates." JP Morgan had expected Samsung to ship 80 million Galaxy S4 units this year. It now believes that figure will be closer to 60 million.
Of course, this is from Wall Street guys so take it for what its worth. After all, they are the ones who "estimated" how many S4 phones would ship so for the target to miss it's point is only to say that they made a bad guess to begin with.
Let me try my hand at this stock thing. Samsung is going nowhere. Buy it while its down.
Hey, this stock analyst crap is easy!
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