After complaining that Apple hadn’t shipped as many iPhone 5 phones in the first weekend of sales as they had expected, now analysts are starting to get so nervous about Apple’s ability to supply enough iPhone 5 units and have reduced their financial forecasts for Apple’s next quarter.

Traditionally Apple’s best quarter is its fiscal first quarter that ends on 31 December (benefiting from Christmas shopping), however, UBS analyst Steve Milunovich has lowered his expectations for the quarter, citing continued signs of tight supplies for the iPhone 5.

Milunovich claims that checks with the supply chain suggest that there are iPhone 5 supply issues.

The problem, as was noted by Barclays Capital analyst Ben Reitzes, is that manufacturing yields for the in-cell displays that the device uses are too low.

Milunovich had forecast 44 million iPhone 5 sales for the December quarter, he now sees sales of 38 million units, according to a Forbes report.

However, notes the report, Milunovich doesn’t see the Apple Maps issue as a “material change in the long-term story”.

Apple is closed yesterday at $681.32, up from $665.18 the day before, but down from its high of $702.91 on 18 September.

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