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Apple Inc. Message Board

  • cchaker cchaker Feb 13, 2013 1:11 PM Flag

    Apple Cuts iPhone 5 Production Ahead of ’5S’ Says Jefferies

    February 13, 2013, 12:44 P.M. ET
    Apple (AAPL) shares today are up $1.83, or 0.4%, at $469.75 despite a warning this morning from Jefferies & Co.’s Peter Misek, who believes the company is cutting production again for its iPhone, after rumors of production cuts that dominated headlines the prior two months, and that a larger-screen version of the phone may not arrive till next year. Misek, who has a Hold rating on the stock, and a $500 price target, writes that sales of the iPhone 5 seem to be dropping off and that the company is preparing for an iPhone 5S, perhaps going on sale in June, possibly at China Mobile (CHL) and that a cheaper iPhone seems to be on the way as well:

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