Saturday, June 10, 2023

Apple Shares Dip Monday as Analyst Expectations Fall Short


Apple has sold more than 5 million iPhone 5 to users in three days of its availability. While the demand for the phone has been high and the initial sales have been a record, analysts were a little disappointed. The weekend did not meet analyst estimates that led to a lowering of Apple shares on Monday. The sales have been higher than that of iPhone 4 but analysts believe demand for the new handset exceeded initial supply.

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Even as the demand for iPhone 5 has made Apple a leader in its category, “The number is lower than what people had expected,” Topeka Capital Markets analyst Brian White has said. He had estimated debut weekend sales of 6 million to 6.5 million units. Some other analysts had expected more than 10 million sales. The shortage seems to be because of a problem of supply.

Apple shares fell 1.3 percent to $690.79 on Monday.

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Nishtha Shukla Anand
Nishtha Shukla Anand
The founder and CEO, Nishtha Shukla Anand has extensive experience of more than 15 years of media experience. She worked with leading media houses such as India Today, Pioneer and Reuters before setting out to do something on her own in 2006 with Pen Pundit Media Services.

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