Apple Drops to 11-Month Low on Reports of IPhone Cutbacks

by Hilbert Hagedoorn on: 01/15/2013 10:11 AM | source: | 70 comment(s)

Apple Inc. declined to the lowest price in 11 months after the Nikkei newswire reported that production of the iPhone was cut on weak demand. Apple ordered about half the 65 million iPhone 5 displays it originally targeted for this quarter, Nikkei said, citing an unnamed executive at a component maker. Manufacturing curbs have been widely known since December, according to Steven Milunovich and Mark Moskowitz, analysts at UBS AG and JPMorgan Chase & Co., respectively. Last month, Apple cut production by about 30 percent, which may be the result of inventory rebalancing or lower consumer demand, Milunovich wrote in a research report today.

Order cuts may also be due to suppliers becoming more adept at building the latest iPhone, reducing the need for Apple to order excess parts, Bloomberg wrote in a note to clients today.

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HonoredShadow
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#4501089 Posted on: 01/15/2013 12:46 PM

-=WolverinE=-
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#4501126 Posted on: 01/15/2013 01:48 PM

That was to be expected... With Jobs gone, the company is going to drop in share price really fast. My prediction is slowly coming true...

ibitato
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#4501146 Posted on: 01/15/2013 02:08 PM

That was to be expected... With Jobs gone, the company is going to drop in share price really fast. My prediction is slowly coming true...

or the worldwide economic depression is shrinking demmand on apple products, just like on any other product and service.........

eclap
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#4501159 Posted on: 01/15/2013 02:16 PM

or the worldwide economic depression is shrinking demmand on apple products, just like on any other product and service.........

erm no. apple are going backwards. you don't see android struggling, do you?

ibitato
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#4501162 Posted on: 01/15/2013 02:19 PM

erm no. apple are going backwards. you don't see android struggling, do you?

price tag is on a different leage, hell economic depressong is even moving ppl to android bc of the prices (of apple devices they used to consume)

anyways, apple sotck prices are beign down for a while, even before jobs death

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