The signposts were there (but were ignored by many, including Warren Buffett and Berkshire Hathaway – starting with the persistent supplier weakness over a month ago and the company’s decision not to provide unit guidance going forward. (It was almost like management knew a big unit miss was coming (from slowing demand and excess inventory) when they issued their most recent – and far too optimistic – guidance.
There were also signs of an elongated iPhone replacement cycle (in China and around the world) – also ignored by many. The Apple “miss” notes are rolling out this morning, but surprisingly the numbers are still being hockey sticked in the out quarters and into next year.
https://www.zerohedge.com/news/2019-01-03/kass-lessons-learned-apples-collapse
