Apple: shares down following WSJ report
(CercleFinance.com) - Shares in Apple opened lower on the NYSE this morning following a Wall Street Journal report that the US tech giant plans to cut iPhone X production in the face of weak demand.
Half an hour after the market opened, the stock is down 1% at 166.2 dollars, broadly in line with the Dow Jones index, which is currently down 1%.
According to the Wall Street Journal, Apple is slashing planned production of the iPhone X for the first three months of the year, in a sign of weaker-than-expected demand for the upmarket handset
Analysts say the Nikkei Asian Review reported the same news yesterday, saying that Apple has warned its suppliers about its cut in its production target for the iPhone X to 20 million units in the first quarter.
Note that the share price fell by over 2% yesterday.
Apple will report its Q1 results on Thursday 1 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Half an hour after the market opened, the stock is down 1% at 166.2 dollars, broadly in line with the Dow Jones index, which is currently down 1%.
According to the Wall Street Journal, Apple is slashing planned production of the iPhone X for the first three months of the year, in a sign of weaker-than-expected demand for the upmarket handset
Analysts say the Nikkei Asian Review reported the same news yesterday, saying that Apple has warned its suppliers about its cut in its production target for the iPhone X to 20 million units in the first quarter.
Note that the share price fell by over 2% yesterday.
Apple will report its Q1 results on Thursday 1 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.