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Apple Shares Close Low as Firm Reduces Screen Orders -- City Index UK

LONDON -- (Marketwire) -- 01/15/13 -- City Index UK -- Shares in Apple closed lower on the Nasdaq last night (January 14th) as the technology giant reduced its orders from suppliers by around 50 per cent for its latest model.

Read Full Article: Apple shares close low as firm reduces screen orders

The Nikkei newspaper in Japan reported that the Californian technology giant has cut its requirement for parts from screen manufacturers for its iPhone 5 model.

It has been suggested that this course of action indicates weakening demand for the new smartphone, which was released in September 2012, while some analysts have revised down their estimates for the number of iPhones sold, which Apple is due to announce in its quarterly annual results next week.

The Guardian reports that Apple made a similar move to cut orders for its iPhone 4S in 2011, but that quarter led to the sale of a record-breaking 37 million models.

At close of play in New York last night, shares in Apple fell by 3.5 per cent to $501.75 per unit.

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City Index is one of the world leaders in spread betting and CFD trading. Established in the UK in 1983 we have grown to become leading providers of contracts for difference, FX and spread betting over the past 29 years.

Forex trading enables you to speculate and potentially profit from the future direction of currencies by buying or selling the exchange rate of one currency against another.

Forex -- also referred to as foreign exchange and FX -- is the world's largest market with an average turnover in excess of US$4 trillion per day. Currency values rise (appreciate) and fall (depreciate) against each other due to a number of factors, including international trade or investment flows, to economic or political conditions. This is what makes trading forex so interesting and exciting -- high market liquidity means that prices can change rapidly in response to news and short-term events, creating multiple trading opportunities for retail forex traders.

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