“Apple Inc’s Asian supplier and assembler stocks fell on Tuesday on a media report that the iPhone maker had told its smartphone assemblers to halt plans for additional production lines dedicated to its new iPhone XR,” Reuters reports. “Taiwan-based assembler Pegatron Corp fell 5 percent and rival Hon Hai Precision Industry Co Ltd (Foxconn) dropped 3.6 percent. Apple is widely considered the biggest customer for Foxconn.”
“Apple shares fell nearly 4 percent on Monday after the report by the Nikkei financial daily, which fueled concerns that the iPhone XR – the cheapest of three iPhones unveiled in September – was facing weak demand just days after it went on sale,” Reuters reports. “The Nikkei, citing supply chain sources, said Apple had also asked smaller iPhone assembler Wistron Corp to stand by for rush orders, but the firm would receive no planned orders for the iPhone XR this season. Wistron shares were down 0.8 percent on Tuesday.”
“Apple began shipping the iPhone XR on Oct 26 after two weeks of pre orders. The company had released the higher priced iPhone XS and XS Max more than a month earlier,” Reuters reports. “On Apple’s post-earnings call last week, Chief Executive Tim Cook said he had very little sales data for the iPhone XR, but the other two models had got off to a “really great start.””
Read more in the full article here.
MacDailyNews Take: The very epitome of fake news. Once again. Ad infinitum. Wherever there is an absence of data, stock market manipulators jump in to ply their craft.
SEE ALSO:
Nikkei claims iPhone XR production cuts, Apple stock drops over 3% – November 5, 2018
Apple’s revolutionary iPhone X was the world’s best selling smartphone in Q118 – June 14, 2018
Nikkei again claims ‘weak demand’ for iPhone X despite much evidence to the contrary – February 20, 2018
iPhone X drives smartphone revenue dominance; Apple made more money in Q417 than the rest of the smartphone makers combined – February 16, 2018
Apple iPhone took more than half of worldwide smartphone revenue share in Q417, a new record – February 15, 2018
Apple supplier says report of iPhone X production cuts was overstated – January 30, 2018
Another January, another misleading iPhone supply cuts story from Nikkei – January 29, 2018
Apple stock drops after Nikkei report of iPhone X production cut – January 29, 2018
Canalys: Apple shipped 29 million iPhone X units in Q4 2017; world’s best-selling smartphone over the holiday season – January 23, 2018
Reports of Apple cutting iPhone X orders make no sense – January 2, 2018
Apple stock tumbles on one poorly-sourced report of low iPhone X demand – December 26, 2017
Apple and suppliers shares drop on report of weak iPhone X demand – December 26, 2017
Nikkei: Apple to decrease iPhone production 10% in first quarter of 2017 – December 30, 2016
Nikkei proclaims ‘iPhone 7’ Dead On Arrival; bemoans Apple’s ‘lack of innovation’ – May 12, 2016
Japan’s Nikkei, The Wall Street Journal blow it, get iPhone demand story all wrong – January 16, 2013
Did Apple reduce 4-inch Retina display orders due to improving yields? – January 15, 2013
Analysts: iPhone 5 demand ‘robust;’ ignore the non-news noise – January 15, 2013
Apple iPhone suppliers decline on report orders cut by 50% – January 15, 2013
Apple swoon erases $17 billion from stock market – January 14, 2013
Apple iPhone 5 production cut signaling a new product release? – January 14, 2013
Apple drops to 11-month low on old reports of component cuts – January 14, 2013
The strange math of Apple’s alleged massive iPhone 5 component cuts – January 14, 2013
UBS analysts: Apple iPhone component order reduction ‘old news’ – January 14, 2013
Apple pulls down U.S. futures – January 14, 2013
Apple shares drop below $500 after reported cuts in iPhone 5 parts orders – January 14, 2013
“On Apple’s post-earnings call last week, Chief Executive Tim Cook said he had very little sales data for the iPhone XR, but the other two models had got off to a “really great start.”
So pipeline is not informed on XR sales numbers and if he was no longer releasing the numbers. Clueless on two counts. No other way to say it, time to leave…
Tim leaves.. Apple shares collapse overnight.
He is the main reason for Apples massive profitability… and as for lineup… i LOVE this years holiday libeup.
Are there ussues to bitch about/ .. yes…and i assure you there will never be a time when everybody is happy with everything.
Plus GB,… not revealing some information is not being clueless .. it is not saying something prematurely … and it is a part of a bigger strategy .
One i support strongly.
There is planty of information that will still be reported that will give anyone with basic arithmetic skills to more or less derive to answers they want.
Nikkei is Fud genrator ..
Time and time , year after year they come in at any opertunity to knock Apple and spread fud.
Dont people see this and learn ?
As for iphone XR… everyone with some understanding of apple lineup knew that xr is not intended for the hardcore enthusiasts…. and its real sales strength will show up throughout holiday season and among budget oriented buyers…
So its way too early to jump to conclusions.
Come 2nd q report we will find out how iphones in general did as a percentage of Apple revenue and profibility.
Thats the bottom line that matters.
Thank you Apple for having the brass to make this units reporting move and putting focus on what matters. Catagory based Revinue and earning trends and gross margins.
Enough information for any investor… you want more deduce.
If you are soreading fud over thus … you are being nothing more than a troll .
This anal-cyst obsessiona of absolute unit numbers quarter over quarter is nothing but silly.
To clarify and I have posted the same before several times. Leave the CEO position and back to supply position under Steve where the workload is concentrating on products meeting schedule and ample supply at launch. Find a new CEO with vision and creativity that can take Apple to greater heights. The spotty attention to Macs the last five years is inexcusable, but I feel better recently…
After all these years you would think these companies would add a ‘minimum’ purchase clause to their contracts with Apple so that it reduces uncertainty for them and softens any major stock change due to Apple supposedly reporting a sudden reduction/stop to production.