Just six short months ago, some of the leading analysts on Wall Street were projecting $1,000 price target for AAPL.
Ironically, as the Dow, NASDAQ, and S&P surge, reaching record heights in some aspects, Apple continues to see its shares tumble. As a result, projections for the stock have grown abysmal.
On Tuesday, investment firm 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 basis for this view, in large part, comes from the firm's understanding 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.
Source: FoxBusiness
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