Apple Inc. (NASDAQ:AAPL) has lost over 6% on the day, and it's reasonable for many investors to be fearful as shares of the tech company are approaching the dreaded "death cross" (see Should You Trade Apple Near The Death Cross?). Qualitatively speaking, the stock's selloff has been attributed to a number of different factors, but one prominent analyst says it may be at least partially a result of an article in the DigiTimes.
Courtesy: Apple Inc. (NASDAQ:AAPL) Press Info
Originally reported by AppleInsider, Piper Jaffray's Gene Munster -- who has been making quite a few predictions lately (see E-Commerce Can Make Facebook Billions) -- said in a note to investors that:
"A DigiTimes article from today suggests that iPhone 5 is selling well based on comments from wireless chipset providers and seems to suggest upside to the Street's 43-45 million estimate for December [...] In the same article, DigiTimes is suggesting a 20% q/q decline in Apple's demand for parts and components in March. We believe this 20% decline is to be expected coming off of a launch quarter and do not believe it is an indication of how units might trend in March."
Additionally, a few writers have speculated that the negative Apple Inc. (NASDAQ:AAPL) move was the result of decreased confidence about a deal between the company and China Mobile Ltd. (NYSE:CHL) because the telecom giant reached a deal with Nokia to carry its Lumia 920T. Munster pokes a hole in the thinking that this will hurt Apple over the long term, saying that "China Mobile already carries multiple smartphones from multiple vendors. We continue to expect China Mobile to add the iPhone in the back half of 2013."