Steve Fortuna, Merrill Lynch analyst, said last week's launch of Apple's new iMac could have a detrimental effect on the company, negatively impacting the company's overall sales. Commenting on the new iMac Fortuna said its arrival, he said: "Rumour mongering preceding the iMac's launch will have prompted Apple customers to defer their purchases until after the new year."
Apple has forecast $1.4 billion sales for its first fiscal quarter, however Fortuna said that $1.4 billion revenues is actually the best Apple can expect.
Fortuna also said there is a 10 to 15 per cent "downside risk" for Apple's shares.
Apple shares closed at $21.05 last Friday down $1.85 from last Monday's close of $22.90.