The Cupertino-based tech giant cut orders of the iPhone 5 screens by roughly 50 percent last month, a possible sign of sagging demand, sources tell the Wall Street Journal.
Apple’s iPhone 5.
Apple is like dialing down its iPhone orders component, a possible sign that the demand for the smartphone, Apple is not quite as strong as expected.
Apple last month cut its orders for iPhone 5 screens for the first quarter 2013 calendar year by roughly half of the original signal, sources tell the Wall Street Journal. The Cupertino, Calif.-based tech giant is also trimmed to match the size of the screen for the other classes as well.
The report appears to support the forecast of at least one analyst, who predicted last month that Apple would face challenges selling its iPhone and Lion. December, UBS analyst Steven Milunovich slashed its iPhone sales estimates for March, June and September 2013 quarters by 5 million units each quarter, while sales for the estimates were cut by 2 million a quarter.
Milunovich also trimmed its earnings estimates for Apple, for fiscal 2013 and 2014, and lowered the stock’s target price to $ 700 from $ 780. Apple is expected to announce its fiscal first-quarter financial results on January 23.
Once dominant smartphone and tablet vendor, Apple has faced challenges on both fronts. The lion’s share of the market has been divided by lower PET ANDROID tablets, while the galaxy s lineup of late About EDGE out for iPhone smartphone market crown.