Apple (AAPL) Cuts Q4 Order of iPhone 5c, Announces Event To Unveil New Products

Apple (AAPL): Cuts Q4 Orders of The iPhone 5c

A source familiar with Apple’s (AAPL) supply chains has indicated that the company has slashed orders of the iPhone 5c with two major manufacturers, in a sign that sales of Apple’s lower cost iPhone 5 are not living up to management’s initial expectations. Orders at Pegatron Corp were reduced by slightly less than 20% for the 4th quarter. Hon Hai Precision Industry has seen their orders reduced by 33% for the same time period. Already facing questions about rising competition and penetration rates in foreign markets, it does not bode well for AAPL to see the 5c struggling, especially with the lingering shortages of the iPhone 5s already dragging on sales. In a glimpse of hope for investors Apple just yesterday announced they are holding a special event on October 22nd. They are expected to unveil the next generation of the iPad, an updated iPad mini with Retina display, and an updated version of the MacBook Pro. The new products unveiled are expected to be available in stores shortly after, the MacBook Pro within a few days and the 5th generation iPad by month’s end.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.

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