Apple Shares Dip Below $100 As Investors Panic Over Rumored iPhone 6S Order Reductions
Is there anything more skittish an Apple stock holder? I'm beginning to think not. Case in point, Apple's share price is trending below $100, a mark it hasn't dipped under since last summer, and it's all because the Cupertino outfit might have cut combined iPhone 6s and iPhone 6s Plus orders for the March quarter.
The latest rumor comes from Nikkei, a major newspaper in Japan that serves millions of readers. According to the report, Apple is reducing current generation iPhone orders by 30 percent for the January to March period so that retailers can sell the inventory they already possess.
Maybe that's true and maybe it isn't. Apple doesn't comment on rumors, nor does it have a history of divulging such things. Assuming the report is accurate, this will likely go down as another case of Apple investors being a little too jumpy.
We've seen this type of knee-jerk reaction from Apple shareholders before, and more often than not, Apple ends up reporting record iPhone sales, revenues, and profits. The amount of money that flows through Cupertino is obscene.
Just yesterday, Apple announced that it collected a record $1.1 billion on apps and in-app purchases in the two-week time period leading up to January 3. And back in October, Apple reported record fiscal Q4 revenue of $51.5 billion, resulting in a net profit of $11.1 billion. Apple CEO Tim Cook described the company's fiscal 2015 as the company's "most successful year ever" with iPhone sales seeing a 22 percent year-over-year jump.
Whatever the case might be, Apple's share price fell nearly 2 percent to $100.73 yesterday, and has dipped to $98.87 at the time of this writing.
The latest rumor comes from Nikkei, a major newspaper in Japan that serves millions of readers. According to the report, Apple is reducing current generation iPhone orders by 30 percent for the January to March period so that retailers can sell the inventory they already possess.
Maybe that's true and maybe it isn't. Apple doesn't comment on rumors, nor does it have a history of divulging such things. Assuming the report is accurate, this will likely go down as another case of Apple investors being a little too jumpy.
We've seen this type of knee-jerk reaction from Apple shareholders before, and more often than not, Apple ends up reporting record iPhone sales, revenues, and profits. The amount of money that flows through Cupertino is obscene.
Just yesterday, Apple announced that it collected a record $1.1 billion on apps and in-app purchases in the two-week time period leading up to January 3. And back in October, Apple reported record fiscal Q4 revenue of $51.5 billion, resulting in a net profit of $11.1 billion. Apple CEO Tim Cook described the company's fiscal 2015 as the company's "most successful year ever" with iPhone sales seeing a 22 percent year-over-year jump.
Whatever the case might be, Apple's share price fell nearly 2 percent to $100.73 yesterday, and has dipped to $98.87 at the time of this writing.
