“Apple Inc. launched the iPhone 5 to great fanfare last month, but supply of the latest smartphone was tight in that final week of the quarter, and a growing number of analysts believe it may remain that way in the current period,” Dan Gallagher reports for MarketWatch.
“Apple shares have slipped about 8% since the Sept. 21 launch of the iPhone 5, and were down about 1% to $637.83 on Thursday morning,” Gallagher reports. “The recent slip came after U.S. wireless carrier Verizon VZ +3.57% reported third-quarter results, saying that it activated about 3.1 million iPhone units during the quarter, which included about 651,000 units of the iPhone 5. ‘We had supply constraints,’ Verizon Chief Financial Officer Fran Shammo said on a conference call Thursday morning.”
Gallagher reports, “But while many had projected that delayed iPhone 5 sales would be pushed into the December period, continued reports of tight supply has raised worries that the constraints may last into early 2013. ‘We reiterate that if supply does not improve by the end of this month, there is supply risk to our 49 million iPhone estimate for December,’ wrote Gene Munster of Piper Jaffray in a note following the Verizon report, adding that ‘any reductions to December estimates would largely be reallocated to March.'”
Read more in the full article here.
MacDailyNews Take: Imagine if iPhones were assembled by robots in the United States.
Well, maybe someday.
Analyst: Verizon iPhone activations portend better-than-expected quarter for Apple – October 18, 2012
Verizon sold 3.1 million iPhones in Q312, including 650K iPhone 5 units – October 18, 2012
Verizon Q3 profit up 15% to $1.6 billion; growth likely driven by Apple’s iPhone 5 debut – October 18, 2012