Apple Inc. (AAPL) shares dropped first time by 20 percent since touching high to $705.07 on Sept 21. The company is facing tough resistance in tech market from rivals Samsung and Microsoft.
The situation has been further damped by the news of Foxconn, Taiwan-based company inability to meet customers demand for Iphone 5.
Foxcon, is a leading contract electronics assembler and maker and also provides services to big tech companies like Apple, Sony and Nokia. Foxcon said that the fourth generation smart phone demand is much more than its shipment. Invariably, affecting the overall sales of Apple’s new Iphone 5.
In recent weeks Apple’s shares have gone down owing to concerns over Management shuffling at executive’s level as well as increased competition mainly with Samsung.