This board has been unusually quiet about Philip Morris International recently, even though PM share prices has been dropping almost every day since Q3 report came out, in the face of overall rising market.
Fidelity Investment's score board and Value Line have turned bearish on PM. My question to this Board, especially to Korynd and Mo_strategist, is your guess on where the bottom might be . Are there any reasons to worry about a change in fundamentals? My major concern is that the rising salesfor iQOS may not be sufficient to offset the decline of traditional cigarettes. With <1% market share in Europe, the success of iQOS outside Japan and Korea is by no means assured.
Recently, I asked a relative to check on the sales status of iQOS in the Osaka-Kyoto area of Japan. He visited 6 large retail stores, observed the traffic and spoke with the shop keepers on 10/20-21.. He reported that iQOS was selling briskly and there was still a shortage of the iQOS device vs the demand. I also sought the help of a friend in Vancouver, Canada where BAT is doing the test marketing. He visited 2 stores and reported poor demand in both stores.