Apple (AAPL) Under Heavy Pressure On iPad Worries

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November 10, 2011 10:34 AM EST
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Price: $292.79 -0.96%

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Shares of Apple Inc. (Nasdaq: AAPL) are under heavy pressure Thursday after comments from a research firm stoked investors biggest fear - a slowdown.

A Midwest-based boutique research firm came out today and lowered iPad estimates citing competition, specifically from Amazon's Kindle Fire. The firm cut iPad unit estimates from 14 million to 12 million. EPS estimates were also lowered below the Street consensus. Q1 (Dec) EPS was cut to $9.53, versus the consensus of $9.70.

Today's development follows worries yesterday of a component shortfall at Apple and reports that the company cut Q4 iPhone shipments.

After trading up fractionally ahead of the distribution of the research report, shares are now down 2.8 percent.

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