Nokia shares are taking a big hit ahead of the company’s fourth-quarter earnings report due Thursday morning.
Credit Suisse analyst Kulbinder Garcha this morning cut his 2009 handset industry sell-in forecast to down 10 percent, from a previous six percent. He also cut his EPS estimate an extra 13 cents–from 87 to 74–upon expectations of continued loss of demand and inventory.
In an interview with Tech Trader Daily, Broadcom CEO Scott McGregor said that the company has developed a chip that will allow cellphone manufacturers to put HD video cameras in their handsets. The chips will be available later this year, although McGregor said that one manufacturer was displaying a prototype privately at CES. He didn’t say which one.
A true parable of how one should stay ahead of the curve: Motorola, once the most successful mobile phone maker in the world, is in danger of losing its standing in the industry. Consumers– and subsequently carriers–are increasingly less interested in the brand. Motorola has the weakest smartphones on the market, and smartphones are what America wants.
In a sweeping call on tech hardware stocks, Morgan Stanley’s Kathryn Huberty and Scott Coleman cut price targets on earnings estimates for a host of hardware and telecom equipment companies to reflect the strengthening of the U.S. dollar and a slowdown in global demand.
People of a certain generation remember when a wire connected the headset to your phone, your phone to the wall and your wall to the world.
Qualcomm (QCOM) CEO Paul Jacobs this morning said in an interview on CNBC that customers are keeping their cellphones for longer than they have in the past.
U.S. and European handset demand was “lackluster” in August, creating pressure on pricing, Pacific Crest’s James Faucette asserted in a research note this morning.
Faucette says says handset sell-through is up sequentially from July, but below expectations for the beginning of the back-to-school season.
Oppenheimer’s Yair Reiner has changed his mind on Synaptics (SYNA).
Last month, Reiner cut his rating on the maker of touchscreens used in mobile phones and other devices–on the theory that the aggressive $199 price tag on the new Apple (AAPL) iPhone 3G “will limit the market opportunity for Synaptics’ stable of potential customers.”
The Street is bracing for another grim quarter from Motorola (MOT) when the handset maker posts results on July 31.
Goldman Sachs’s Simona Jankowski this morning warned that the company is likely to miss consensus estimates for the quarter due to the continued weakness in its mobile devices business.
Thing just keep getting worse for Motorola (MOT). Battered today by negative notes from several analysts, the stock is headed for its lowest close in 5 years. And it isn’t all the company’s fault: there are mounting concerns on the Street that expectations for the handset market in general for 2008 are simply too high.
Things keep getting worse for Motorola (MOT) and its unraveling handset business. Yesterday, the stock was pressured by comments from contract manufacturer Foxconn suggesting that weak demand for Motorola’s phone continues.
The stock today has extended its losses, pressured in part from a flurry of negative research from the Street.
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