Wrong assumption: Research houses have slashed Globetronics’ profit estimates as the new iPhone X does not feature the bundling of wireless earphones. — AFP
PETALING JAYA: Shares of Globetronics Technology Bhd
took a dive yesterday following an earnings downgrade by Maybank Investment Bank Research (Maybank IB).
The research house has slashed its profit estimates for Globetronics by 9%-13% for financial years 2017, 2018 and 2019, as the newly launched Apple smartphone does not feature the bundling of wireless earphones.
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