Wall Street slips on tech sector weakness, report of soft iPhone X demand

“U.S. stocks declined on Tuesday as Apple and shares of its parts suppliers weakened on a report of soft iPhone X demand, which pulled technology shares lower,” Chuck Mikolajczak reports for Reuters.

“According to Taiwan’s Economic Daily, citing unidentified sources, Apple will slash its sales forecast for its flagship phone in the current quarter to 30 million units, down from what it said was an initial plan of 50 million units,” Mikolajczak reports. “The report, along with some recent brokerage calls on tepid iPhone X demand, made Apple shares sink 2.5 percent, their worst single-day percentage fall since Aug. 10.”

“Shares of companies that supply parts to Apple, including Broadcom, Skyworks Solutions, Finisar and Lumentum Holdings, all fell,” Mikolajczak reports. “The Dow Jones Industrial Average fell 7.85 points, or 0.03 percent, to 24,746.21, the S&P 500 lost 2.84 points, or 0.11 percent, to 2,680.5 and the Nasdaq Composite dropped 23.71 points, or 0.34 percent, to 6,936.25.”

Read more in the full article here.

MacDailyNews Take: What a joke.

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


  1. All I can say is, I bought mine in Hong Kong in an Apple store, the line was like 50 people non-stop with new ones joining while happy customers leave with their new found love. The sales rep that I talked to confirmed sales of around 2000 iPhone X per day. That’s just one store. Say all you may ye naysayers, but I believe the X would set another record.

  2. the unlocked iPhone X with the Qualcom modem went TURBO and the iPhone X with the Intel Modem (ATT & T-Mobile) with the slower modem got soft because consumers got educated and the unlocked market is huge. As Tim Cook always says don’t be a schmuck about individual data points on the supply chain – OK I’m paraphrasing.

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