Among other Apple suppliers, Cirrus Logic Inc. sank 14 per cent, Qorvo Inc. and Broadcom Inc. each slid 6.4 per cent, ON Semiconductor Corp. fell 5.9 per cent, Skyworks Solutions Inc. fell 5 per cent, and Finisar Corp. dropped 4 per cent. Semiconductor stocks were broadly lower with the Philadelphia Semiconductor Index losing 4.4 per cent.
Lumentum makes the vertical cavity surface-emitting lasers, or VCSELs, that Apple uses for its latest iPhones that come with 3-D facial recognition.
"It's a reversal from a similar report issued in October in which Kuo said he expected the iPhone XR to be a big seller for Apple", CNBC reported on Monday. Longbow Research has apparently conducted a check of Apple's iPhone supply chain and concludes that Apple is cutting its orders by 20% to 30% for the iPhone XS Max and iPhone XR.
Smartphone assemblers Foxconn and Pegatron were told to halt plans for additional production lines dedicated to the iPhone XR, according to Japan's Nikkei. In other words, whether or not iPhone XR sales are above or below projections is arguably irrelevant as long as Apple keeps finding ways to boost revenue, which is clearly more important than how any one specific iPhone model is doing in the marketplace. Like most device makers, Apple prefers at least two suppliers for each component.
Chelsea vs Everton, Premier League
Right-back Seamus Coleman is going to need an extra body around him to help defend against in-form Chelsea sensation Eden Hazard . So it's very hard to stay close to these teams. "Hazard can create problems in any moment of the match".
Analysts said the lack of technological breakthroughs in Apple's product line has put a cap on demand, which would persist in the coming quarters.
Apple's stock fell 5% today, reaching its lowest level in almost four months, after key suppliers cut their forecasts citing reduced orders from a major customer.
"We believe these challenges are largely cyclical and investors should pay greater attention to the transformation to services, where Apple was able to report quarterly record revenue of $10 bn in [the most recent quarter] despite a regulatory challenge in China", the JPMorgan analysts write.
More recently, Apple launched a new version of its operating system, iOS 12, that supports an unprecedented 28 of the company's devices, including models that went on sale in 2013.
"For Apple, the iPhone shipment has reached its peak".