Following a Wall Street Journal report that Apple had cut orders for iPhone 5 components due to weak sales of the device, UBS analysts have released a note to their investors saying such a report is “old news.”
Analysts Steven Milunovich, Peter Christiansen and John Roy cited Monday’s report in The Wall Street Journal.
“The article says Apple notified suppliers of the cut last month, which is when we and most of the Street reported it. Consequently, it appears this is old news—our analysts indicate no changes since,” the UBS analysts wrote.
UBS cut their iPhone quarterly sales forecast last month, when the order reductions first came to light.
The Wall Street Journal report was believed to have contributed to the dip in Apple’s stock price early Monday morning.
The UBS analysts are expecting December quarter iPhone sales of 45 million, and Apple earnings of $12.77 a share. Apple’s company report will be issued later this month.
