And now there’s this:
[J.P. Morgan's Mark] Moskowitz, like other analysts, dismissed recent concerns that iPhone demand could be waning. That sentiment, which pushed Apple’s stock below $500 this week, was driven by an article from The Wall Street Journal that alleged iPhone component orders were drastically reduced in response to weakened demand.
Earlier this week, Moskowitz dismissed that and other reports as just “noise” that would fuel an investor overreaction. On Thursday he stood by that sentiment, and reiterated his belief that any order cuts could mean that iPhone 5 manufacturing yields are improving. Moskowitz has forecast sales of 47.9 million iPhones in the December quarter.
Yet another record-breaking holiday quarter. Yawn.
What was Apple’s real problem last quarter? Moskowitz said, “his team’s research indicates near-term supply constraints affected iPad sell-in activity through the end of November.”
Demand exceeded supply. Now there’s a problem most companies would kill to have.