Just like the temperatures on the East Coast today, Apple’s shares are slipping, slipping, slipping.
Much of the decline can be blamed on the iPhone 5, which has been too successful for its own good, and Foxconn can’t keep up. “It’s not easy to make the iPhones. We are falling short of meeting the huge demand,” Foxconn chief Terry Gou said today.
That’s not the type of news investors like to hear.
But the iPhone 5 doesn’t tell the whole story. According to report by IDC released on Monday, Apple’s share of the tablet market dropped from 59.7 percent to 50.4 percent during the third quarter. Clearly, the iPad is starting to feel some heat.
There’s other trouble as well: Yesterday, Apple lost a court battle over its FaceTime technology that cost it $368 million. Combine that with Apple’s not-so-inspiring executive shake up of last week and one thing’s certain: There’s not much joy in Cupertino as of late.
Photo: Flickr/ Lara604