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Let's get a sense of what's going on out there with those markets. Returned by Christina Aquino, Bloomberg News. Christine, what are you looking at? Well, let's take a look at Apple, Paul. I mean, we got some early news before the open about a downgrade, but Apple shares ticker AAPL, those are actually rebounding nicely now that the cash equity is open, and those shares up just two tens of one percent at the women. So yes, earlier we did
get a Jeffrey downgrade. They downgraded a firm to underperform from hold, and that is one of the few sell equivalent ratings on the Bloomberg system. Fewer than seven percent of analysts have that sort of rating. So this is an outlier for sure. But the analysts are saying that their currentvaluation prices for Apple reflects a quote overly bullish
iPhone outlook. But then Bloomberg Intelligence saying that the seven day average for iPhone seventeen delivery times was eighteen point nine days versus thirteen point six days last year, so that actually means longer rating times, stronger demand, and they're saying that means that that puts it on track in terms of sales for an eight to nine percent game, which is double the consensus of four percent. So looking optimistic probably what's being reflected in the share price today.
Let's also talk about Applied Materials.
It didn't report earnings, but I guess it gave the equivalent of a profit warning. Yeah, absolutely, Scarla, and the shares are paying for it or Applied Materials to create AMAT. Those shares are down more than three percent now, so extending losses as the session continues. And that's exactly it.
So we got Applied material saying that their net revenue for fiscal twenty twenty six set to decrease by six hundred million dollars because of the Trump administration's actions to dramatically expand USA actions to capture subsidiaries of blacklisted companies. What ultimately that means is that they're just going to have a harder time selling to companies in China, specifically who don't have a license to go around these sanctions.
And City analy is saying that this is a big hit to apply material specifically because they're assuming about a thirty percent of total revenue being derived from China, so that impact six hundred million dollars. That's going to be around seven percent to china total revenue in fiscal twenty twenty six, which is worse than some of its competitors in the space. Boeingo, what's happening? They're not good things Triple seven. I didn't know we had a problem with
Triple seven. I can't contract, I know, Well, apparently we do, and we got this Bloomberg exclusive reported yesterday after closed. So and that's taking a little bit of a hit on the shares, not too much though, so ticker be a shares down just two tenths of one percent. But the news doesn't sound good. So they're Triple seven slated to fly commercially for the first time in early twenty twenty seven now instead of next year. So Lafonsa was meant to be the launch customer for this aircraft and
they're already making plans for delays. Meanwhile, Emirates, which is meant to be the biggest customer for the aircraft, are also growing more cautious and they're looking at entry into service, possibly not before twenty twenty seven. So the estimate from analysts there in terms of non cash accounting charge that could run from anywhere from two and a half billion to as much as four billion dollars, So the press
is negative. Executives have held meetings with major investors and are now working on damage control messaging.
The stock mover's report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.