Apple shares slip toward $500 on iPhone 5 demand worries

Apple's iPhone 5

Apple’s iPhone 5

(Credit: CNET)

Apple’s stock could fall below the $ 500 mark, if the pre-market trading trends continue throughout the day.

In trading before the placing on the market today, Apple shares slipped more than 17 to land at about $ 503. In some places this morning, Apple shares are even lower, although not fall below the $ 500 mark.
As trading on the Nasdaq took off, Apple has dropped by about 3 percent to about $ 504.25.

Apple investors are unloading shares news that the company has cut iPhone 5 orders for components in half due to weaker than expected demand for its new smartphone. That came a few weeks after UBS analyst Steven Milunovich cut sales estimates for iPhone 5 million units in three 2013/4, saying that Apple would face problems increasingly sell both its smartphones and tablets.

However, Milunovich is not so concerned about the actions of Apple. Wrote in his research note that he expects Apple shares hit $ 700 over the next 12 months.

Over the last few months, Apple shares have been steadily dropping. Apple 52 weeks is $ 705.07. At a closing price on Friday of $ 520.30, Apple is closer to its 52-week low of $ 418.66 to its high. In the last three months alone, Apple’s stock has slid 17 percent.
We will continue to update this story throughout the day, as Apple shares Notable movements.

Update 06:45 PT: Added the price of Apple shares for trading on the Nasdaq started for the day.

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