Apple Rearranges iPad Orders
Original 2013 production levels for the iPad and iPad mini from Apple Inc. (NASDAQ: AAPL) totaled about 60 million iPads and 40 million iPad minis. The company is now altering its shipping estimates for the two products to a projected 33 million iPads and 55 million iPad minis, according to a report from Taiwan's Digitimes citing industry sources.
The shift in balance between the two devices and the overall drop in estimated shipments may be further bad news for the Cupertino company. The change could tip revenue estimates for Apple down sharply.
The company's supply chain could also feel some pressure. Panel makers for the iPad could take a hit, while panel makers for the iPad mini could see a boost in orders and revenue. LG Display Co. Ltd. (NYSE: LPL) makes the larger screens for the iPad and AU Optronics Corp. (NYSE: AUO) supplies screens for the iPad mini. Suppliers of backlighting units are also likely to experience changes in orders from Apple.
Apple shares are down about 0.3% in premarket trading, at $424.50 in a 52-week range of $419.00 to $705.07.
Shares of LG Display are inactive in the premarket, having closed at $14.22 last night in a 52-week range of $8.41 to $16.80.
Shares of AU Optronics are also inactive, having closed last night at $4.39 in a 52-week range of $2.70 to $5.49.
Filed under: 24/7 Wall St. Wire, Consumer Electronics, PC Companies, Technology Companies Tagged: AAPL, AUO, LPL