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-   -   Samsung, HTC shares pummeled on poor flagship smartphone sales (http://forums.macnn.com/113/tech-news/502045/samsung-htc-shares-pummeled-poor-flagship/)

 
NewsPoster Jul 8, 2013 08:41 AM
Samsung, HTC shares pummeled on poor flagship smartphone sales
Samsung and HTC have both seen their share prices pummeled overnight by investors concerned about slowing demand for flagship smartphones. Samsung shares <a href="http://macnn.com/rd/289252==http://www.reuters.com/article/2013/07/08/us-samsungelectronics-stocks-idUSBRE96702E20130708" rel='nofollow'>fell over 4 percent</a> 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 <a href="http://macnn.com/rd/289253== http://www.electronista.com/articles/13/06/07/12.billion.wiped.off.samsung.stock.on.reports.of.w eakening.demand/" rel='nofollow'>weakening demand</a> for its Galaxy S4 flagship in recent months, which is now thought to be reflected in its weaker than forecast financial results.<br />
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Similarly, HTC shares are also down, plunging to <a href="http://macnn.com/rd/289245== http://blogs.wsj.com/digits/2013/07/08/htc-shares-hit-lowest-in-more-than-7-years/?mod=WSJBlog" rel='nofollow'>a seven year low</a> and knocking $395 million off the Taiwanese handset maker's market cap. HTC's losses came despite the company <a href="http://macnn.com/rd/289246== http://www.electronista.com/articles/13/07/05/phone.manufacturer.avoids.seventh.consecutive.quar terly.profit.drop/" rel='nofollow'>meeting its own guidance</a> 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.<br />
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Apple has also not been immune to <a href="http://macnn.com/rd/289247== http://www.electronista.com/articles/13/02/14/some.firms.completely.divested.of.apple.stock/" rel='nofollow'>negative investor sentiment</a>. Despite posting a <a href="http://macnn.com/rd/289248== http://www.electronista.com/articles/13/01/23/mixed.reactions.from.investors/" rel='nofollow'>record quarter</a> early this year, its stock has fallen from a record high of <a href="http://macnn.com/rd/289249==http://www.macnn.com/articles/12/09/18/stock.has.risen.86.percent.since.co.founder.jobs.d ied/" rel='nofollow'>over $700 per share</a>, down its current level of $417.42 at the time of writing. Apple <a href="http://macnn.com/rd/289250==http://investor.apple.com" rel='nofollow'>will post its results</a> 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. [<a href="http://macnn.com/rd/289251==http://www.phonearena.com/news/Samsung-and-HTC-shares-get-battered-to-new-lows-on-flagship-smartphone-slowdown_id45002" rel='nofollow' rel='nofollow'>via</a> <em>Phone Arena</em>]<br />
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<div align="center"><img src="http://photos.macnn.com/news/1307/smartphones-lg.jpg" /></div>
 
iphonerulez Jul 8, 2013 09:34 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.
 
airmanchairman Jul 8, 2013 04:34 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"...
 
airmanchairman Jul 8, 2013 05:44 PM
Oops: "the Sun don't shine"...
 
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