Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Tech News > Samsung, HTC shares pummeled on poor flagship smartphone sales

Samsung, HTC shares pummeled on poor flagship smartphone sales
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Offline
Reply With Quote
Jul 8, 2013, 09:41 AM
 
Samsung and HTC have both seen their share prices pummeled overnight by investors concerned about slowing demand for flagship smartphones. Samsung shares fell over 4 percent after it released its second-quarter earnings estimates. Despite anticipating a record profit of $8.3 billion on the back of $49 billion in revenue, this fell well short of analysts' expectations. Reports have emerged of weakening demand for its Galaxy S4 flagship in recent months, which is now thought to be reflected in its weaker than forecast financial results.

Similarly, HTC shares are also down, plunging to a seven year low and knocking $395 million off the Taiwanese handset maker's market cap. HTC's losses came despite the company meeting its own guidance for the quarter with investors hoping to see a stronger performance on the basis of a strong critical reception for the HTC One. HTC posted a profit for the past quarter of just $41.6 million on revenue of $2.4 billion. Analysts were predicting a profit of $65 million, based on an optimistic outlook for the HTC One.

Apple has also not been immune to negative investor sentiment. Despite posting a record quarter early this year, its stock has fallen from a record high of over $700 per share, down its current level of $417.42 at the time of writing. Apple will post its results for its third fiscal quarter on Tuesday July 23. As with Samsung and HTC, the key metric analysts will focus on is its flagship smartphone sales. [via Phone Arena]

( Last edited by NewsPoster; Jul 8, 2013 at 11:02 AM. )
     
Dedicated MacNNer
Join Date: Nov 2008
Status: Offline
Reply With Quote
Jul 8, 2013, 10:34 AM
 
I don't get it. Amazon has had quarters where they didn't meet guidance. The share price would drop for a short while and then suddenly rise to new heights. How does Amazon manage to create that magic that other companies can't.
     
Fresh-Faced Recruit
Join Date: Dec 2011
Status: Offline
Reply With Quote
Jul 8, 2013, 05:34 PM
 
Not magic, sir...

Just the smoke and mirrors of mere presumption, plucked from those regions of the speculators' anatomy where "the don't shine"...
     
Fresh-Faced Recruit
Join Date: Dec 2011
Status: Offline
Reply With Quote
Jul 8, 2013, 06:44 PM
 
Oops: "the Sun don't shine"...
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 12:00 AM.
All contents of these forums © 1995-2014 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2014, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2