Following clickbait dead-in-the-water headlines which spelled doom for Apple on overzealous analysts projecting overly optimistic iPhone sales, it’s now Samsung’s turn to feel Wall Street’s wrath. So, is Samsung’s smartphone business running out of steam?
That’s the question Wall Street is pondering as investors punish the South Korean firm after orders for its flagship Galaxy S4 had supposedly dropped by as much as thirty percent.
Friday, Samsung shares slid by more than six percent after more than $12 billion was sliced from the Android maker’s market capitalization. Can Samsung stop the downward spiral, perhaps offering a stock buyback as Apple did? Or are we seeing only the latest signs of an industry-wide slowdown in demand?
Either way, the old saying about people living in glass houses seems all the more pertinent…