Shares of Apple component suppliers trade lower in
response to the company's iPhone 5 sales data.
The morning, shares of the world’s largest company Apple
Inc.(NASDAQ:AAPL) opened lower on Monday after disclosing below estimated sale
numbers of its recently launched iPhone 5 during the weekend.
Shares of Apple Inc.(NASDAQ:AAPL) fell about 2% in first
hour as the company said
that it managed to sell 5 million of iPhone 5 during the opening week, which is
not at all an impressive numbers compared to analysts target of 6-10 million
during the weekend. If that’s not enough, the analyst’s target of 6 million was
set for the worst case scenario. So a sell of 5 million is fueling further
panic among investors at large considering the heavy success rate of Apple’s
new launch in the past.
Like in the past, expectations were huge from the company’s
latest development as the pre-order run out of stock in just an hour. After
today’s fall, the stock has erased its entire gain in the past week.
In other news, Apple Inc. supplier Foxconn
Technology Group ordered one of its Chinese factories closed Monday after a
dormitory brawl reportedly escalated into a violent riot that took several
hours to bring under control.
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Cirrus Logic, Inc.(NASDAQ:CRUS) slid 3.50% to
$40.55, Cirrus Logic, Inc.(NASDAQ:CRUS lost 3.21% to $34.35, Broadcom Corporation(NASDAQ:BRCM)
was down 1.50% and TriQuint Semiconductor(NASDAQ:TQNT) slid 2.10%.
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