“Apple Inc. has seen its shares weighed down this week on reports of production cuts on its popular iPhone and iPad devices, possibly due to component shortages arising from the floods in Thailand,” Dan Gallagher reports for MarketWatch.
“Apple (AAPL) shares have come down more than 4% this week,” Gallagher reports. “That represents a slight underperformance to the broader Nasdaq, which despite volatile swings during the week stemming from the debt crisis in Europe, appears on pace to close the week with a decline of less than 1%.”
Gallagher reports, “For Apple, much of the issue has been a swirl of market reports out of Asia indicating a slowdown in production on its iPhone and iPad lines… Not everyone believes there is a production slowdown. Gene Munster of Piper Jaffray wrote a report on Wednesday that, ‘We believe recent chatter around iPhone 4S production cuts is off base,’ adding that he remained comfortable with his target of 26 million units sold for the December quarter.”
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