Apple Cuts Q4 iPad Orders By 25%?
Apple has reportedly dropped its Q4 iPad orders by 25%, the first such cut that JPMorgan analysts in Hong Kong have ever seen, notes Bloomberg.
For a vendor such as Hon Hai, the cut could mean a drop to 13 million units in the fourth quarter from 17 million units in the third quarter, JPMorgan analysts wrote in the Sept. 25 report. The report said JPMorgan U.S. analyst Mark Moskowitz, who covers Apple, does not expect to lower his projection of 10.9 million to 12 million units of iPad shipments in the third and fourth quarters after the supply chain adjustments.
Wanli Wang, an analyst at RBS Asia Ltd, said reduced orders could reflect a weakening demand in Europe due to economic conditions and an effort by Apple to operate with reduced inventory.