Last May, Engadget reported that the Apple iPhone would have delays in production but the rumor was untrue. And Apple’s stock price dropped, resulting in a temporary $4 billion market capitalization loss.
Apple’s stock price has taken another beating due to a report from TheStreet.com this time. According to CNBC: “The report first surfaced on TheStreet.com, claiming that Apple would reduce production of its iPhone from 9 million units to 4.5 million units, according to a note from Miller Tabak analyst Peter Boockvar.'”
However, when Boockvar was contacted for further clarification, he stated that he just simply agreed with TheStreet.com as it was just a rumor. But then he said that “We weren’t issuing any kind of report” and “we don’t have an Apple analyst, we don’t even have a tech analyst.” Boockvar continued, “Disregard it” and “There’s no note on Apple today. It’s pure noise.”
