Apple Shares Plummet after order for iPhone components slashed

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According to reports from Nikkei, Apple slashed its original order of 65 million display units to about half for the running quarter. Analysts suggest that the reduction in order is attributed to the saturation of iPhone sales in the developed market.

Shares of Apple have been rated as “overweight” by Cordwell who does not own any of the shares. Apple has not just to worry about the saturation of its own lineup of products but also face a stiff competition from its rival Google(Android based devices). Affordability has steered the gear for the Android phones. iPhone being on the expensive side is yet to grasp mass-markets. Only time will say whether Apple can catch up Android and producer cheaper devices or not.

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