Not for the first time, Nikkei Asian Review gave a signal to sell. (But so did Lindsey Graham and Bernie Sanders.)
From “Apple weighs delaying 5G iPhone launch by months, sources say” posted shortly before the close:
ALO ALTO/TAIPEI — Apple is preparing the ground to possibly delay the launch of its first 5G iPhones as the coronavirus pandemic threatens global demand and disrupts the company’s product development schedule, sources familiar with the matter have told the Nikkei Asian Review.
The Cupertino, California-based tech giant has held internal discussions on the possibility of delaying the launch by months, three people familiar with the matter said, while supply chain sources say practical hurdles could push back the release, originally scheduled for September.
“Supply chain constraint aside, Apple is concerned that the current situation would significantly lower consumer appetite to upgrade their phones, which could lead to a tame reception of the first 5G iPhone,” said a source with direct knowledge of the discussion. “They need the first 5G iPhone to be a hit…”
“Apple will make a final decision around May at the latest, given the fluid situation globally,” another person told Nikkei…
Suppliers have not been officially notified of a possible change in the production timeline, and Apple is even urging many of them to make up for time lost due to coronavirus-related disruptions.
“We are not giving it up yet. We are doing whatever we can to sort the issue out,” a person with direct knowledge of the matter told Nikkei.
“The discussion is still at an early stage, and the fall launch is not completely off the table,” one of the sources with direct knowledge of the issue said. “But the 5G iPhone could be postponed to 2021 in the worst-case scenario.”
My take: Apple is doomed.
UPDATE: Not just the 5G iPhone. From Barron’s…
The Dow Lost Half Its Gains in the Final Minutes of Trading Because the Stimulus Bill Is Still Being Debated