Are Apple Sales Wobbling?

There’s more trouble for Apple Inc. (NASDAQ:AAPL) on the sales front. Or so the Apple Barometer says.

In a research note by Ticonderoga Securities’s Brian White, he writes that his “Apple Barometer” shows weak orders for October.

According to a Barron’s article, the Apple Barometer was created by White to indirectly track Apple’s progress through sales data from companies with Apple contracts. This primarily encompasses the Asia-Pacific region and includes the Taiwan-based Hon Hai Precision; its Foxconn division puts together some of Apple’s products.

White has rated Apple shares a Buy but noted that the company’s October sales for this supplier basket declined to a 16 percent year-over-year growth–a considerable drop from Apple’s 62 percent September collective sales growth.

He suggests that the September numbers may be inflated from prep for Apple’s (NASDAQ:AAPL) iPhone 4S October debut; however, he further supports concerns with the following,

When we tally up the combined September and October sales versus historical averages, the Apple Barometer still fell well short (~12% below) of what has been reported in the past. Although it is difficult for us to get our head around this weakness given what seems to have been a well received iPhone 4S launch so far and our expectations for a robust holiday season for Apple with the iPad 2 and MacBook Air, this report is too negative to ignore and we must carefully monitor the Apple supply chain over the next few weeks.

Keep in mind, something that White did not mention is the potential effect by the Thai floods on the electronics supply chain.