Yes it would. If it stops charging for a while and drain the battery a little, then rew it up to produce more juice, it won't go up right away since charging the battery puts extra load to a weak stator. As the battery is charged the voltage goes up. When you slow down, it should go down again, especially when it is hot. My alternator died that way.
Originally Posted by mischief
I have an '09 with about 48,000 miles on it. I have had a voltage indicator on it almost since I've had it. The indicator has always worked fine. Yesterday I went riding and about 80 miles out the voltage went from 13.7 to 11.8 so I turned around and made my way the 60 miles back to the highway with it indicating between 11.8 and 11.5. When I got back to the highway I opened it up in 4th, maybe 7500 rpm and it started showing 13.7 again. I have a ce series regulator to put on it but I haven't gotten it done yet but if the stator was burnt it wouldn't go in and out, would it? I suppose I will get another stator just in case but this seems weird. The temp was in the mid 80's so I don't think it was heat related