Apple’s iPhone 5 has been wrought by product shortages since the device was released in late September. And the problem continues.
As of this writing, shipping times on Apple’s Web site for new iPhone 5 purchases are frozen at three to four weeks, suggesting that demand is still outpacing supply by an enormous margin.
A key supplier to Apple Inc. said Wednesday it is shipping “far fewer” new iPhones than the Cupertino, Calif. company has requested, because some quality standards still can’t be met due to design-related production difficulties.
“Supply-chain problems have led to a long wait for the iPhone 5 since the device’s late-September launch,” analysts tell the Wall Street Journal. “The scarcity of the phones has been weighing on Apple’s share price as well, as investors are concerned Apple may not be able to meet consumer demand in the near future, weighing on its earnings.”
On Wednesday, the smackdown for Apple’s stock continued, as the tech giant shed better than $20 to dip well below $560 for the first time in months.