comes with a single and debilitating caveat that renders it effectively moot. It only applies to iPhones running iOS 11, the version of the mobile platform that Apple has already replaced. All new iPhones ship with iOS 12.
The price of Apple’s stock had dropped from $168 to $164 per share when the Qualcomm news broke earlier this week. But perhaps a bit of reflection was in order, as the iPhone sales ban in question only applies to handsets that ship with iOS 11. All of Apple’s new iPhones—not just the iPhone XS, XS Max, and XR, but also newly-sold iPhone 7/7 Plus and iPhone 8/8 Plus models—now ship with iOS 12.
As a result, Apple told CNBC that the band would have “no material impact” on the company.
Looking at Apple’s stock price this morning, I see that it’s rebounded, literally, to $168. And CNBC has determined that all of the “negativity” about Apple lately means that its stock price is depressed, making this an excellent time to buy.
I have no opinions on buying stock. But Apple does have a rich history of confounding negative reports about iPhone sales. So it’s reasonable to expect the firm to announce in its next quarterly earnings cycle that it has exceeded estimates of iPhone sales, revenues, or both. With Apple no longer reporting unit sales, this news will need to be taken with the proper amount of skepticism. But it will no doubt trigger a nice stock market rebound should it happen.
Tagged with Qualcomm