Apple Logo

Apple Inc. (NASDAQ:AAPL) has embarked on a bearish stretch today, as Piper Jaffray lowered its Q4 estimates on the tech big wig.  Jaffray is reducing Apple’s revenue estimate to $34.6 billion for the fourth quarter of this financial year. This reduction is more than $1 billion shy of previous estimates, which came in at $35.8 billion.

Jaffray has also lowered its earnings projection, forecasting that Apple Inc. (NASDAQ:AAPL) will now post earnings of $8.40, as opposed to earlier estimates of $9.32 per share.

The research firm also believes that Apple’s flagship handset, the iPhone, will record slightly lower sales, citing that sales will come in at 22 million- 2 million less than previous estimates.

Gene Munster-one of Jaffray’s most renowned personalities, and a senior analyst at the firm- said that he didn’t expect the highly anticipated iPhone 5 to be released until October. Through a note that he issued, Munster also pointed out that most analysts had settled for a September launch. “We believe September could be another quarter where Apple does not beat its revenue guide by the same magnitude as past quarters,” he said.

While hope is still there, the reality of the matter is, positive prospects will have to wait until the launch of the iPhone 5. As per now, prospects are somewhat dim, as Apple’s latest earnings figures have been received with disappointment. Apple’s disappointing performance gnawed into its stock, as the stock shed off 4.8 percent and came in at $572.04.

While some analysts may feel bearish about Apple Inc. (NASDAQ:AAPL)’s stock, I am inclined to believe that the situation is short term. In fact the long haul presents a lot of possibilities, and Apple could just end the year in style.

On Monday, we did report that demand for the iPhone 5, which is still due to be released, had hit unprecedented levels. Despite the dim macroeconomic view and the eroded consumer confidence, a survey, spearheaded by ChangeWave, suggests that close to 14 percent of surveyed individuals will buy the iPhone 5. As such, investors and other stakeholders still have a lot of hope in Apple in wait of the highly anticipated iPhone 5 launch.

All the same, hopes of Apple’s stock ever hitting the $1 trillion mark seem to be fading off ,as prevailing circumstances prove otherwise. In as much as Apple has hopes of making a huge comeback at the end of the year, it still has to grapple with an uncertain global economy, Samsung litigation drama, and cutthroat competition in the industry.