Apple Inc. (NASDAQ:AAPL) Retreats After Rising On iPhone 5 Launch Expectations
Apple Inc. (NASDAQ:AAPL) Retreats After Rising On iPhone 5 Launch Expectations
Apple Inc. (NASDAQ:AAPL) is trading down 1.12% at $559 after rising on research note issued by analyst at Piper Jaffary.
The Company’s iPhone5 launch which is expected to be in motion in October this year had created lot of anxiety among the investors. This had made the shares to rise to $573.88 on 23 May, 2012. But the shares have retreated to trading price of $559 since then.
The Company has been involved in a legal battle with Samsung over patent infringement issues and has till date not come to any decision or settlement.
Shares had risen in the past few trading sessions on anticipation and expectations attached to its iPhone 5 launch creating excitement among the investors. The stock had fallen about 12% after posting second quarter fiscal 2012 results and guidance for a lower than expected earnings for Q3.
The note by analyst at Piper Jaffary had concluded that the tech company’s expected launch of its iPhone 5 originally scheduled for October this year may get pushed back to a later period in 2013 after a reported disclosure of shortage of 28 nm baseband radio chip at Qualcomm required in the product.
Also, the Company’s new product launch might open up marketing avenues in China where the market share of Samsung is still very high.
Shares of Apple Inc. (NASDAQ:AAPL) were trading on a very low volume of 6.47 million shares as opposed to its average trading volume of 23.25 million shares.
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Article source: http://www.retirementplanningzone.com/apple-inc-nasdaqaapl-retreats-after-rising-on-iphone-5-launch-expectations/2653