In nine days, we’re going to have a better idea how well (or poorly) Apple’s sales were during the important holiday quarter. Until then, we can expect a bumpy ride for Apple’s stock.
It was just last week that both AT&T and Verizon Wireless suggested possible record smartphone sales from October through December. Naturally, this was celebrated as great news for Apple and for the company’s iPhone 5.
Then came news that Apple had slashed component orders for the iPhone by as much as 50 percent due to “weaker-than-expected” demand. As Aldrin Calimlim suggested, it has gotten so bad that some of Apple’s Japanese suppliers are looking to partner with other tech companies to make up for the lost orders.
This news briefly sent Apple’s stock below $500 for the first time since February in pre-market trading. At the time of this writing, shares are down nearly $14.
Until Apple announces sales figures on Jan. 23, Wall Street will see a lot of uncertainty. As such, expect the rocky ride to continue for a least a few more days. By that day, however, we’ll know whether it was a record-breaking quarter for Apple or something far less positive.