Apple Stock Is Tumbling as Analysts Fret About Emerging Markets and Less Transparency – Barron’s

Wall Street is getting more concerned economic weakness in emerging-market countries will hurt Apple (AAPL).

On Thursday, Apple posted fiscal fourth-quarter earnings per share of $2.91 on revenue of $62.9 billion, topping consensus estimates for EPS of $2.78 on revenue of $61.46 billion, according to FactSet.

But the midpoint of the company’s guidance for the holiday December quarter fell short of Street expectations. Apple forecasted fiscal-first-quarter sales of $89 billion to $93 billion versus the average analyst projection of $93.02 billion.

Bank of America Merrill Lynch analyst Wamsi Mohan lowered his rating to Neutral from Buy for Apple’s stock, citing the risk of economic growth slowdowns in India, Brazil, Russia and Turkey.

“We are incrementally concerned that not all the weakness is capture in [the near term] and we are likely to see further negative estimate revisions,” Mohan wrote on Friday.

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Apple Stock Is Tumbling as Analysts Fret About Emerging Markets and Less Transparency – Barron’s.