“Shares of Apple Inc (AAPL) suppliers rebounded on Tuesday after heavy losses in the previous session as investors remain confident of continued demand for the hot-selling devices of the California-based company,” Clare Jim reports for Reuters.
“Two sources in Apple’s supply chain said there were no official order cuts from their client, however, one said he would be cautious about actual orders to be placed for the fourth quarter,” Jim reports. “‘There’s no official downward revision and we’ll still prepare the same amount of materials for Q4 as planned, but we’ll also be cautious about actual orders to be placed as the overall economy is slowing,’ a source with direct knowledge of the matter told Reuters.”
Jim reports, “Another source said there was no change in orders from Apple for the fourth quarter and their business would not be affected… On Monday, Apple suppliers tumbled following an analyst report from JP Morgan out of Hong Kong that said the U.S. company was cutting fourth-quarter sell-in orders for its iPad tablet by 25 percent. A U.S.-based JP Morgan analyst issued another report later, however, saying he was aware of the supply chain noise and reiterated that he expected Apple’s iPad and iPhone build plans and shipment levels to continue to increase going forward.”
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