Apple’s stock is getting demolished again this morning after reports from the WSJ and the Nikkei that it cut orders for the iPhone.The weird thing about the stock falling on this news is that, well, it’s not news.
- December 5: DigiTimes reports Apple’s iPhone orders will fall in Q1.
- December 14: Apple drastically cuts iPhone orders, says Jefferies.
- December 16: Citi cuts Apple target, cites slowing demand and supply orders.
- December 20: Susquehanna says production was cut.
There are others, but we stopped covering it for a while because it was old news.
It seems like the Journal’s plain language saying demand is weak is what’s killing Apple. Apple reports earnings in nine days, so we’ll get a better idea about the iPhone then.