Apple set to cut iPad orders by 25%, says analyst

Teni Sow | September 27, 2011 | 0 Comments

Apple Inc shares dipped nearly 3 percent in early trading on Monday after an analyst said the iPhone maker is cutting orders from suppliers of parts for its iPad tablet.

JPMorgan Chase said in the research note that several suppliers indicated in the past two weeks that Apple lowered fourth-quarter iPad orders by 25 percent.

“Our understanding is that this is not in preparation for a new model launch,” said Gokul Hariharan, JP Morgan’s Asia Pacific electronic manufacturing services analyst.

The move could result in slower sales for suppliers like Hon Hai Precision Industry Co, the analyst added.

Apple shares were down $12 at $392.30 on Nasdaq.

Hariharan noted that Mark Moskowitz, JP Morgan’s U.S.-based Apple analyst, does not expect the supply chain adjustments to result in downside to his estimates for iPad shipments.

Another analyst report out of Asia over the weekend indicated that the retail outlook was that Apple remained positive on the continent with packed Apple stores in several Chinese cities..

“We anticipate continued strong earnings growth for Apple due to our checks indicating strong global demand for the iPhone and iPad,” said analysts at Canaccord Genuity.

Apple did not immediately reply to a request for comment.

 

Join the forum discussion on this post

Make Current

RedditStumbleUponDeliciousTumblrDiggBlogger PostMister-WongLinkedInShare

Related posts:

  1. Apple stock hits its highest level ever
  2. iPad 3 Release Date: 2012 More Likely Than 2011
  3. Apple Sues Samsung in Japan over iPad and iPhone Patents
  4. Exxonvs:Apple Exxon Mobil Corp. Ends Week As United States’ Most Valuable Company
  5. Chinese smugglers use epic zip-line to maneuver iPads, apple apple iphones

Tags: , , ,

Category: Technology

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

«
»
Increase your website traffic with Attracta.com