Analyst sees delays for Apple iPhone 5S, low cost iPhone and Apple iPad mini 2; stock plunges
According to the analyst, the Apple iPhone 5S is having pre-production issues. Mass-production of the phone is at least a month away, Misek stated. Along with the delay in iOS 7, he says a July launch of the next iteration of the iPhone is out of the question. He also says that there is no chance that we will see the Apple iPhone 6 in calendar year 2013. That last point is a bit odd since no one had expected the iPhone 6 until 2014.
The low cost version of the Apple iPhone, expected to be produced for emerging markets like China and India, is now delayed and Misek sees a Q4 launch a possibility. Lastly, problems that Apple's partners are having producing Retina display screens for the next Apple iPad mini could lead to a launch later in the second quarter than originally thought. Raising the resolution on the iPad mini was an important target for Apple since the 1024 x 768 resolution screen on the current 7.9 inch device has a rather poor pixel density of 162ppi.
The combination of the possible product delays and a weak market disturbed by domestic events, pushed Apple briefly under $400 earlier on Wednesday. The stock, which hit a 52 week high last September 21st at $705 on the launch of the Apple iPhone 5, is now trading at $401, down more than 5% on the day, or $25. Wednesday's low was $398.11 which is a new 52 week low.