Apple may have room to fall

Investor's Business Daily

Despite a 200-plus point slide since Sept., the consumer electronics giant has room to fall further, a Nomura analyst report said. It lowered its view for Apple's (AAPL) iPhone 5 and trimmed its profit forecast. Like others, Nomura said sales of iPhone appear to be weaker than expected, adding it thinks profit margins and average selling prices for the smartphone are "unsustainably high." Nomura cut iPhone unit estimates for the current fiscal year, which ends in Sept., by 5%. Apple fell 3% to $485.92, its lowest close since Feb. 8, '12.

View Comments