|
|
|
|
|
15th Jamadi-us-Saani 1435 | Thursday, Apr 17, 2014
Business

Apple stock drops amid disappointing iPhone 5 launch in China

Saturday, 15 December 2012
Comments(0)
Washington, December 15:

Tech giant Apple’s stock has plunged to four percent, falling to as low as 509 dollars a share amid disappointing launch of iPhone 5 in China.The latest iPhone went on sale in China Friday, but according to a report in The Wall Street Journal, the initial reception for the device was much more tepid than in previous years.

“Apple’s flagship store in Beijing’s upscale Sanlitun shopping district began selling the iPhone 5 for the first time on Friday in what was arguably the least eventful launch of an Apple device in the company’s four-year history in the Chinese capital,” the paper said.

The paper pointed out that there are several possible reasons for this, a new company policy requiring customers in China to apply online a day in advance to secure a window of time to pick up an iPhone, Mashable reports.
According to the report, to make the matter worse, multiple analysts have cut their price target on Apple''s stock this week.
Steve Milunovich, an analyst with UBS Investment Research, cut his price target on the stock to 700 dollars from 780 dollars on Friday.

Milunovich specifically cited concerns about sales of the iPhone 5 falling short of those of the iPhone 4S, the report said. (ANI)

Latest News

Dropped catch by me cost MI the game: Malinga

He shone with the ball with a four-wicket haul but Mumbai Indians' pacer Lasith Malinga feels respon ...

Low-calorie restaurant menus may be making us unhealthier

A new study suggests that restaurants that now provide "low-calorie" labels on their menus can inadv ...

Voting underway in Rajasthan

Polling was today underway in 20 Lok Sabha constituencies of Rajasthan where over 3.48 crore voters are expected to exercise their franchise ...

Related News

HCL Tech Q3 net profit up 59 pc at Rs 1,62...

IT services firm HCL Technologies today posted 59 per cent increase in net profit at Rs 1,624 crore for the quarter ended March 31, 2014. ...

Indian policies inhibit foreign investment...

India's investment and tax policies must be designed to lure and not to deter capital flows, a top Obama administration official has said. ...

Oil prices rise in Asian trade

Oil prices rose in Asian trade today on lingering concerns over the Ukraine crisis, but analysts said a bearish US stock ...

Post new comment

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

Rs. 29220 (Per 10g)

Opinion Poll
Do you think Kumar Vishwas can beat Rahul Gandhi in Amethi?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com