stock down 10% in pre-market - so what's going on here ?
the IPhone 5 is just selling way below Apple's obviously optimistic projections especially in Europe and some mature Asian countries. The IPad is getting cannibalized heavily by the IPad Mini. None of these developments has been a secret to the street as most analysts already cut their estimates and price targets on Apple.
But with NTE trading close to 52-week-highs and contractor Japan Display notably exposed the most to recent order cuts there's plenty of downside on this news.