Is Apple Inc (NASDAQ:AAPL) on a Downslide in the Smartphone Market? - QCOM & CRUS
Northern, WI 1/15/2013 (avauncer) - Apple Inc (NASDAQ:AAPL)’s latest cut on the LCD screen demand raises speculation of the declining demand of iPhone 5 and amplifies the losses of U.S firms to Asian Smartphone giants. The latest cut in the procurement from LG Display Co. Ltd of South Korea, Japan Display Inc and Sharp Inc. are sure indications of the growing losses due to competition. The speculations get further substantiated by decrease in demand of other Smartphone components too. The decline has also led to decline in the share prices of the Apple Inc (NASDAQ:AAPL) and affected the share prices of its suppliers such as the QUALCOMM, Inc.(NASDAQ:QCOM) and Cirrus Logic Inc. (NASDAQ:CRUS) too.
Rivals in Smartphone Business
The Samsung Inc and the Huawei Technologies Co ltd have been the strong marketers this season and have proved to be worthy rivals. The present competition has forced Apple Inc (NASDAQ:AAPL) to cut the inventory purchases. According to Jefrries analysts, estimates of iPhone shipments are also being trimmed to facilitate the balancing of the excess inventory holdings.
Shares of Apple Inc (NASDAQ:AAPL) were down by 3.57% to end at $501.75
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) were down by 1.02% to end at $64.24
Shares of Cirrus Logic Inc. (NASDAQ:CRUS) were down by 9.37% to end at $28.62