AAPL falls on fears of iPod overstocking
updated 04:00 pm EDT, Fri June 3, 2005
AAPL falls
Shares of Apple , saying it expects little sequential growth from the company's iPod line.
"I think (the report) is right; there is inventory there, and we are only looking for a flat quarter" for iPod unit shipments compared with the period ending in March, Piper Jaffray analyst Gene Munster said. "But (Apple's) quarter is going to be fine. There will be an upside to revenue and more upside to earnings."
"Today Apple is believed to be sitting on its most significant inventory of iPod shuffles since the player hit the market in February," AppleInsider wrote. "According to reliable sources of information, tens of thousands of iPod shuffles remain idle in the channels this week alongside a good number of iPod photos."
"But it's not just the company's current inventory that is turning heads. Sources say that along with the increase in product availability came a significant decline in the number of build-orders coming into Apple's overseas manufacturing facilities. It's an odd trend with a major Apple event around the corner."
Fresh-Faced Recruit
Joined: Jun 2005
overstock happens..
I personally would not buy before any mac conference just in case new products are introduced. I am sure other mac users feel the same so overstock is not a suprise to me.