Apple Faces iPhone Problems and 3 Other Tech Titans Making Noise

Apple (NASDAQ:AAPL): Jefferies has reduced the company’s price target to $420, from $500, as concerns regarding supply-chain and a potential delay in the next-generation iPhone continue. The firm stated in a research note that there’s a 25 percent chance the iPhone and iPad maker will not reach its revenue forecast for the current quarter. “Our checks indicate Apple’s suppliers are having problems with the new casing colors leading to a push out from June to July-September after Apple hoped to pull forward the update,” the firm informed clients. The analysts warned that it is possible that sales may continue to slow after Samsung’s (SSNLF.PK) Galaxy S4 launch this week. Additionally, Jefferies estimated that a low-cost iPhone may have a cost somewhere between $350 to $450, higher than predicted.