Arab Today, arab today apple slumps below 400 after analyst comments
Last Updated : GMT 15:01:05
Arab Today, arab today
Arab Today, arab today

Apple slumps below $400 after analyst comments

Arab Today, arab today

Arab Today, arab today Apple slumps below $400 after analyst comments

New York - AFP

Apple shares fell briefly below $400 Monday after an analyst said the iconic gadget maker is to slash production of its iPhones. Shares fell as low as $398, before closing at $402.34, a drop of 2.7 percent. Apple has been on a downward trend since last September when shares topped $700. A research note from the brokerage firm Jefferies said Apple is likely to cut production plans for the iPhone to between 25 and 30 million in the third quarter, down from between 40 to 45 million. It went on to predict that Apple would also trim production in the fourth quarter to between 50 and 55 million from 60 to 65 million. \"Our survey of several hundred Orange, Vodafone, and EE stores in the UK indicates that inventories are elevated for iPhones and the Samsung Galaxy 3,\" said Peter Misek at Jefferies. Misek added that \"memory module makers have recently been reallocating orders in the third quarter away from Apple and toward emerging market players.\" The analyst said production of a new iPhone has not commenced yet \"but we believe it is about to begin,\" adding that he expects a new \"iPhone 5S\" updating the current model and a \"low-cost iPhone\" to launch in September. A separate note from Trip Chowdhry at Global Equities Research said the lower share price and eroding market share are creating a vicious circle for Apple, prompting some employees to jump ship. \"Recruiters are seeing more and more employees from Apple applying for jobs at Google, LinkedIn, Facebook and even HP (Hewlett-Packard),\" he said \"Employees are viewing lower Apple Stock price as an indication of a bleak future for Apple.\" Chowdhry said Apple\'s move to pay a dividend with a bond sale, in an effort to boost its share price, appears to have backfired. \"Returning of cash to shareholders, has had no beneficial effect for Apple stockholders and has only reduced the cash on (its) balance Sheet, thereby being net detrimental to share holders,\" he said. Google\'s Android mobile operating system ran on three out of four smartphones sold in the world in the first quarter of 2013, according to recent surveys.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple slumps below 400 after analyst comments Arab Today, arab today apple slumps below 400 after analyst comments

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple slumps below 400 after analyst comments Arab Today, arab today apple slumps below 400 after analyst comments

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today China refuses visa to elderly India runner

GMT 15:01 2017 Tuesday ,26 September

China refuses visa to elderly India runner
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday