The report that apple stopped production at one of their plants due to underage worker violations at the beginning of last quarter may explain why there were reports they cut orders at two other suppliers at the end of the quarter. If they lost 100% of production from one manufacturer they would have moved those orders to other manufacturers. Then when the fired manufacturer was replaced, orders would be cut at the manufacturers that took the overflow, returning the loads per manufacturer back to 'normal'. I have no proof of this, but as many shorts and bears point out, bulls and longs need to find good news, or make it up.
There are also figures that may suggest lack of demand. Inventory doubled YOY. The only problem that I have with lowered guidance confirming a lack of demand is they say they will have a monstrous, although lower quarter in Q2. The other problem I have with lack of demand is there are about 40 million people that will be upgrading their phone in the next two quarters in the US based on sales from Q2/Q3 '11. I believe most will stick with an iphone. So, if AAPL can match those numbers a broad, it looks like AAPL will ship at least 80 million iphones in the next two quarters. The question I have is are there new consumers in the US to capitalize on? Most people have a smart phone, and they are probably going to stick to OS they started with.