An interesting look at the state of AAPL on The Wall Street Journal’s ‘Digits’ show this week. BBC News reports that, following rampant speculation that the Cupertino, CA company has dropped the number of iPhone 5 orders it is placing with its Far Eastern manufacturers – likely due to ‘weakening demand’ for the smartphone – the firm has seen a significant drop in its share price.
AAPL fell 3.5-percent on Monday following reports over the weekend that filtered out regarding the speculated move by the company, one report of which involved analyst Peter Misek notably lowering his original shipment estimates he expects to see for the iPhone 5 between January and March, adding the recent move by Apple was likely an effort to “balance excess supplies” of the 4-inch smartphone.
As of writing, AAPL is trading at $501.75 a share, reflecting a -18.55 (or -3.57%) point decline compared to its previous close.
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