Apple Supplier Jabil Circuit Drops on Margin Challenge
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Jabil Circuit Inc. fell the most in more than a year after reporting profit that missed analysts’ estimates, a sign that higher spending to manufacture casings for Apple Inc.’s iPhone 5 is crimping margins.
Shares of the St. Petersburg, Florida-based electronics supplier declined 9.9 percent to $18.90 at the close in New York, for the biggest decrease since August 2011. The stock has lost 3.9 percent this year.