Correct me if I'm wrong, but I think one scenario consist with the bulk of more-or-less credible rumors goes something like this...
Apple sold over 50M iPhones in Q4'12, as expected. However, the mix of phones was unexpected - previous models took half the market share. So rather than 40M 5s, they only sold 25M 5s. This left them with overstock on 5s for Q1'13 of approximately 15M 5s. This was, in turn, roughly half their expected sales for Q1'13, therefore they naturally cut component orders by half. This, in turn, is going to have a significant impact on iPhone revs and margins, hence the price action.
I'm not saying it's necessarily the reality, just trying to find a narrative that fits the major talking points currently in circulation. |
