Shares in Apple drop to US$500 over fears of poor iPhone 5 sales

Apple’s share price has fallen more than US$200 in four months in reaction to news the technology giant has cut its order for the LCD screens used in the iPhone 5.

The technology giant is due to publish its next quarterly results on January  23, which should reveal just how many of its latest smartphone it has sold.

The drop is believed to be a reaction to reports in Japan that said Apple had reduced its orders, and the Wall Street Journal quotes sources which said the reduction was “roughly half of what the company had previously ordered”.

While some experts emphasised the bad news for Apple, Benedict Evans, telecoms and technology analyst for Enders Analysis, said: “It’s not a press release from the company or the suppliers. We’re like the blind men trying to describe an elephant. Halving orders would imply some fundamental collapse in Apple’s operation, and there’s simply no sign of that.”

It has also been highlighted that Apple has put tens of billions of dollars into manufacturing facilities, potentially indicating it is planning on moving the manufacturing of its iPhones ‘in-house’.

Posted in: Mobile

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