Chinese tech stocks slump after report that Apple has cut its iPhone X orders by 40%
Apple is a company that can make or break the fortunes of its suppliers, that is why when reports started emerging yesterday that the Silicon Valley juggernaut has cut its suggested iPhone X order forecast from 50 million to 30 million, a lot of Chinese tech stocks experienced quite a ravaging, swimming in a sea of red, as you can see in the stock exchange snapshot below.
We'll see how it all pans out, but Apple's stock has shot to a $900 billion market cap this year, and the hopes that it will be the first trillion-dollar tech company may be put to the test as soon as Apple's first quarterly results after the iPhone X went on sale hit the tape some time next month.
source: Bloomberg
#Apple suppliers are trading lower after #Taiwan media reported that Apple cut forecast of #iPhone X sales in Q1 2018 to 30mln units from prev 50mln units. pic.twitter.com/6TrhcHuHAP
— YUAN TALKS (@YuanTalks) December 25, 2017
source: Bloomberg
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