iPhone 5 is still selling heavily despite reports that Apple has cut down orders for the phone's components due to low demand, according to analysts.
Dismissing the rumours, Shaw Wu, Sterne Agee analyst, said that weak demand is not a problem for Apple, whose component order change could be because of generous returns, which are lower component builds and supplier shifts, the Telegraph reports.
Mark Moskowitz of JP Morgan agrees with the fact, saying that the order cuts directly result from better manufacturing yields following the substantial production of the iPhone 5 as well as new iPads and Macs.
The report of Apple cutting iPhone 5 orders sent its shares down below 500 dollars.
According to analysts, Apple is expected to announce the sales of between 43 and 63 million iPhones for the final three months of 2012.
William Power, a Baird analyst, said that most demand indicators remain favorable. (ANI)