Apple Shares Drop Following iPhone 5 Supply Order Rumors

It seems that the rumors are beginning taking its toll on Apple. Earlier today, citing Japans’s Nikkei, the Wall Street Journal reported that Apple might be cutting iPhone 5 supply orders due to low demand. And just a few hours after that, Apple’s shares were beginning to decline. According to Bloomberg Businessweek, stock fell as much as 4.5 percent to $497.

“It dropped to $520.30 at the close in New York on Jan. 11 and has lost 26 percent from a September record,” it said. Apple has yet to release a statement to confirm the reports. If the rumors are true, then perhaps the iPhone is indeed losing its “cool factor.” But on a different perspective, the move could also signify that Apple is preparing for a major launch, perhaps a cheaper iPhone, or an iPhone 5S or even an iPhone 6. Take these rumors with grain of salt, though.

Gene Ryan Briones
Categories: Apple
Tags: iPhone, iPhone 5