At the start of trades on January 14, the securities of Apple Inc. declined from $520.3 to $499.8. Having lost nearly 4%, the shares of Apple Inc. declined to the lowest price in 11 months.
At 19:30 GMT+4, Apple’s stock was trading at $503.4 per share.
The securities of Apple Inc. sagged on news that demand for the iPhone 5 waned. On January 13, The Wall Street Journal informed that the corporation had cut orders for iPhone 5 components due to weaker-than-expected demand.
More specifically, in January-March the corporation halved its display orders.
According to The Wall Street Journal, such statistics point to weakening demand for the iPhone 5 due to strong competition from Android device makers such as Samsung.
The Nikkei newswire also noted muted demand for iPhone parts.
There had been many warnings that demand for iPhone could slow. Hence, such a scenario had been predicted by DigiTimes, a Chinese newspaper, as well as Jefferies, UBS, Citibank, Susquehanna.
As International Data Corporation has it, Apple’s share of the smartphone market was 14.6% in the third quarter of 2012, whereas in the fourth quarter of 2011 and the first quarter of 2012 it was as big as 23%. Samsung’s slice meanwhile rose to 31.3 % in the third quarter of 2012 from 8.8% in the third quarter of 2010.
