Apple isn’t faring well in Wall Street today: investors are scared that the company isn’t selling as well as they’d hoped. One of Apple's suppliers (Cirrus Logic) has reported falling sales, which suggests that Apple might be ordering less from them.
This would be the second quarter where the company has disappointed investors; January revenues were below market expectations.
There’s also the issue of new products: analysts were expecting a refreshed iPad this month (although it seemed unlikely to start selling products on a six-month refresh cycle) and the iPhone was expected to be released in June but it seems more likely we’ll see it in September instead. If the next iPhone were to launch in June, we should be starting to get leaks.
Apple was in the opposite situation this time last year. The company’s share price was rising continuously before it hit a $700 peak just as the iPhone 5 was launched. Analysts were incredibly bullish, with some predicting $1,111 share price sometime later this year. Since then the company has seen its share price fall dramatically and analysts are expecting the share price to be ~$600 by the years end: almost half.
