As far back as the launch of the iPhone 5, I said that it was massively underwhelming and predicted that this would be the end of Apple.
By December, industry pundits were agreeing with what I said all along, with rumours that the iPhone 5 was not selling so well. The share price drop in AAPL was precipitous, wiping off more than a quarter of the value of the company.
A few days ago, the Wall Street Journal more or less confirmed that demand for the iPhone 5 was weaker than anticipated, with a report that Apple has slashed orders for LCD screens by half:
I would like to point out to forum members who kept telling me that the share price would go up ... that I have been right all along. Who was it who told you to sell your Apple shares when they were $700? You do expect a few little blips where the share price rallies, but everyone now sees that the emperor has no clothes. The share price will slide below $500 and go even lower, until Apple shows some signs that it can compete outside the court room.
By December, industry pundits were agreeing with what I said all along, with rumours that the iPhone 5 was not selling so well. The share price drop in AAPL was precipitous, wiping off more than a quarter of the value of the company.
A few days ago, the Wall Street Journal more or less confirmed that demand for the iPhone 5 was weaker than anticipated, with a report that Apple has slashed orders for LCD screens by half:
Apple Inc. has cut its orders for components for the iPhone 5 due to weaker-than-expected demand, people familiar with the situation said Monday.
Apple's orders for iPhone 5 screens for the January-March quarter, for example, have dropped to roughly half of what the company had previously planned to order, two of the people said.
The Cupertino, Calif., company has also cut orders for components other than screens, according to one of the people.
Apple notified the suppliers of the order cut last month, the people said.
The move indicates that sales of the new iPhone haven't been as strong ...
I would like to point out to forum members who kept telling me that the share price would go up ... that I have been right all along. Who was it who told you to sell your Apple shares when they were $700? You do expect a few little blips where the share price rallies, but everyone now sees that the emperor has no clothes. The share price will slide below $500 and go even lower, until Apple shows some signs that it can compete outside the court room.