“U.S. stocks were set to open lower on Tuesday in thin trading volume following the Christmas holiday as losses in Apple and a bunch of chipmakers weighed,” Sruthi Shankar reports for Reuters. “Apple’s shares fell 2.6 percent to $170.47 in premarket trading after Taiwan’s Economic Daily reported the company would slash its sales forecast for the iPhone X in the quarter”
“Shares of Apple suppliers, including Broadcom, Skyworks Solutions, Finisar and Lumentum Holdings, fell between 1.47 percent and 3.4 percent,” Shankar reports. “Most markets around the world, including parts of Europe and Asia, were closed on Tuesday.”
Shankar reports, “The indexes clung onto small weekly gains last week, after a long-promised Republican bill to cut corporate tax rates was ratified and a short-term spending bill that averted a government shutdown was approved.”
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MacDailyNews Take: Post Christmas AAPL sale!
Even if a particular data point were factual it would be impossible to accurately interpret the data point as to what it meant for our overall business… There is just an inordinate long list of things that would make any single data point not a great proxy for what’s going on. Apple CEO Tim Cook, January 23, 2013