Crunch time for Apple as Wall Street reveals nerves over smartphone sales

Crunch time for Apple as Wall Street reveals nerves over smartphone sales

Apple fans keep buying iPhones, but Wall Street keeps worrying the company will not be able to match last year’s blistering sales pace.

Shares in the world’s most valuable company have fallen more than 15% over the last month, amid reports that some Asian parts suppliers are expecting Apple to trim production orders for its signature smartphone this winter.

Those fears were compounded on Wednesday when the Wall Street Journal said one of Apple’s most important contractors was sending workers home on “early holiday” before the upcoming Chinese New Year.

Apple has not commented on those reports.

But even an upbeat announcement that its online App Store set a sales record failed to boost the stock.

Its shares fell more than 2% Wednesday and were trading just above $100.

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