Apple Inc. AAPL shares have stabilized in early Monday trading following a volatile Friday selloff on a report by GfK that the iPhone 7 and 7 Plus registered 25 percent lower sales in their opening weekend than the previous iPhone model.

Bank of American analyst Wamsi Mohan believes the actual iPhone sales numbers are likely not that bad.

According to Mohan, the GfK data is missing several key components and a direct comparison between iPhone 7 sales and iPhone 6s sales is more difficult than it may seem.

“In our opinion this data is not representative of true demand as our conversations indicate that the data does not account for several factors including (1) Apple store, (2) online sales, (3) supply constraints, (4) comparability of data,” Mohan explains.

He points out several additional factors that could be producing unfavorable comps in China. Apple has been aggressively opening…

Click here to continue reading

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!