Slumped iPhone 5 orders take bite out of Apple shares
By Michael Northcott Tuesday, 15 January 2013
The price of shares in Apple has dropped after it emerged that the firm has reduced the number of orders for parts for its latest iPhone.
Latest Stories from Management Today
Shares have fallen 3.5% in the consumer electronics giant after reports from Japanese new sources suggested that the firm has halved the number of display panels it has on order for new iPhones in Q1 of this year.
The news is particularly bad for Apple investors because Samsung has only just revealed record sales and profits which it puts largely down to the success of its Galaxy smartphones, which are Apple’s direct competitor.
Some analysts are predicting that Samsung will out sell Apple by almost 90 million devices this year – and given that Samsung is already the world’s leading smartphone vendor, this means Apple’s situation is only getting worse.
A shame for those who bought Apple shares back in September 2012. At $702 per share, Apple was the most valuable it has ever been, and the most valuable company ever in cash terms. The price has dropped 28% since that peak.
Siri, how do I cut my losses?