“The bigger they are, the harder they fall” is a familiar phrase on Wall Street. And Apple is the unfortunate company that gets to prove that point once again.
Less than six months after reaching a new all-time high, AAPL has effectively tanked. Largely erased or muted are the projections that Apple will trade $1,000 at some point soon. And today, investment titan Jefferies added its voice to the growing list of AAPL pessimists.
On Tuesday morning, Jefferies issued a research note indicating the firm’s belief that there is a 25% chance the consumer tech giant will miss its “already downbeat revenue forecast” for the current quarter.
The lack of faith in AAPL originates from the fact that suppliers are “having problems with the new casing colors” for the new iPhone 5S.
“Jefferies added that while Apple was hoping to pull the product update forward, it will likely be delayed until at least July. A low-cost iPhone will see a delay as well,” the bank said, according to Fox Business.
Jefferies also expects Apple to delay the launch of its iTV until next year.
