JPMorgan: Apple Cuts Orders For iPad In Supply Chain
Apple Inc. (NASDAQ:AAPL) has cut down orders to vendors in their supply chain for the iPad according to JPMorgan Chase & Co. (NYSE:JPM). This will directly affect sales at Hon Hai Precious Industry Co.
This is the first cut that analysts at JPMorgan’s team in Hong Kong had ever seen. This could result in a drop of 13 million units in the fourth quarter from 17 million units in the third quarter for vendors such as Hon Hai.
JPMorgan analyst does not expect to lower their projection of 10.9 million to 12 million units of iPad shipments in the third/fourth quarters after the adjustments in the supply chain. The Apple iPad accounts for about 73% of the tablet computer sales this year.