360° Coverage : Apple Was the Worst Performer in the S&P 500 Index Monday

Apple Was the Worst Performer in the S&P 500 Index Monday

Apple stock continues downward trend

Sep 16 2013, 1:43pm CDT | by

Apple Was the Worst Performer in the S&P 500 Index Monday
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Apple's stock woes continue on as Apple was reportedly the worst performer in the S&P 500 index and the NASDAQ on Monday. Apple took a beating after it was reported that major Chinese carrier China Telecom was making customers pay more upfront for the iPhone 5.

Things aren't looking very good for Apple and the iPhone 5C in the United States. Last year when the iPhone 5 launched delivery was already two months back within the first three hours the device is available for pre-order. Delivery date for the iPhone 5C still remains Friday as of now.

That means that either Apple had a huge number of iPhone 5C devices in hand for the demand simply isn't there for the cheaper iPhone. “However, we believe the iPhone 5 had significant supply constraints at the launch date last year due to the new aluminum unibody enclosure that was difficult for suppliers to manufacture at first, while our research has not uncovered any supply constraints around the iPhone 5C,” analyst Brian White said in a note.

 
 
 

<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Shane is a self described car aficionado. He loves muscle cars, but also knows how green cars work. He has years of experience in testing cars and writes about cars with deeply felt emotions.

 

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