Slumped iPhone 5 orders take bite out of Apple shares

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.

by Michael Northcott
Last Updated: 19 Aug 2013

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?

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Upcoming Events

Latest on MT

When will high street banks disappear?

When will high street banks disappear?

Branches are closing at an accelerating rate, but don't expect them to disappear entirely.

Burger chain Byron em-broiled in controversy after immigration raid

Burger chain Byron em-broiled in controversy after immigration raid

Reputational disasters can emerge out of thin air.

Apple still over-relies on the iPhone

Apple still over-relies on the iPhone

The tech giant's trying hard to diversify, but karaoke shows and Pokémon Go won't make up for dropping iPhone sales.

Will Mark Zuckerberg's mobile-first strategy make Facebook bigger than Google?

Will Mark Zuckerberg's mobile-first strategy make Facebook bigger than Google?

UPDATE: Facebook's mobile revenues increase 84% year on year. Does this give the social network the edge over Google?

5 things you didn't know about R&D tax credits

5 things you didn't know about R&D tax credits

Is your business innovating? You could claim back tax on fuel, staff and other costs.

Can you start your own business without quitting your day job?

Can you start your own business without quitting your day job?

Torn between the freedom of the start-up life and the security of the payroll? As a part-time entrepreneur you can have both.