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.

All it took is one report in a Taiwanese publication for Apple's supplier Lens Technology to plunge 8%, for instance. The report said that Foxconn's Zhengzhou plant, where the iPhone X is assembled, stopped hiring new blood, and a few unnamed sources that claimed it is because of the eventual 40% order cut by Apple. This comes hot on the heels of other warnings about the new iPhones' uptake and analysts lowering their target on Apple's stock from "buy" to "hold."

Market research firm JL Warren Capital LLC also warned that the handset's shipments may slump, after the early adopters have all equipped themselves with one at the $999 starting price, and offered its own supply chain sources as proof for diminished orders by Apple. There is a "weak demand because of the iPhone X’s high price point and a lack of interesting innovations," argued the market intelligence shop, adding that the "bad news here is that highly publicized and promoted X did not boost the global demand." 

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

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35 Comments

1. ImperialDynamics

Posts: 84; Member since: Nov 30, 2012

First trillion-dollar company? Seriously? And you call yourselves a serious tech blog? You need to educate your writers better:http://www.visualcapitalist.com/most-valuable-companies-all-time/

2. Zylam

Posts: 1823; Member since: Oct 20, 2010

LMAO your argument is a company that ran from 1600 to 1800 and was worth 78 million in its day, which if progressed to current times would be worth 7.9 trillion if.... IF it existed. Hahahahaha. Good job.

12. CHP19

Posts: 50; Member since: Jun 23, 2017

Euhm... no it's not if progressed to current times. It's simple inflation taken into account. If it existed today is thus irrelevant. 78 million dutch guilders in that day is the same as 7.9 trillion us dollar today. It has the same buying power. So yes, by definition it was in todays money a trillion dollar company. And btw petrochina already went over the actual trillion dollar mark back in 2007 without taken into account inflation. So in any case Apple is not the first trillion dollar market cap company.

14. daniyal_05

Posts: 93; Member since: Nov 15, 2017

Yayyy. IphoneX is not selling as well as was expected https://www.macrumors.com/2017/12/22/iphone-x-sales-not-as-strong-as-expected/

17. sgodsell

Posts: 7606; Member since: Mar 16, 2013

Look at the end of the day, instead of deflecting away from this information in regards to where Apple's iPhone X sales are not as hot as they would like. Then that clearly means that there is room for improvements. Oh, say like maybe add a fingerprint scanner on the next iPhone X to make it better. Wow, what a concept. Anyone could have come up with that idea, and they would have made the iPhone X sell more. Instead the Apple today is all about perception, and not function. Hey Apple likes to make people think their batteries last longer by slowing down their SoCs. But the sheep lap it up. Hey for the longest time Apple themselves said their LCD displays were the best on any smartphone. Yet Apple broke down an purchased the best smartphone displays from Samsung. Displays that were on Android smartphones for years. The OLED smartphone displays for a couple of years now have supported HDR on Android. Something that no iPhone supported until the iPhone X started using an OLED display. Then some report that Apple's display is the best display on any smartphone and it's the most accurate display. Yet all the OLED Android smartphones have given their users options for an accurate display to a higher contrast display, and this has been this way for years. But the sheep continue to lap up the crap from that fruit company. Also a 64gb iPhone X with 3 Gb of ram, and only a 454 DPI display for a $1000 with only cat 11 LTE on some iPhones. What was Apple expecting?

31. Nine1Sickness

Posts: 896; Member since: Jan 30, 2011

78 million by definition is still only 78 million. Inflation is irrelevant.

7. darkkjedii

Posts: 31757; Member since: Feb 05, 2011

That’s the dumbest response possible to this article...just wowwww dude.

29. worldpeace

Posts: 3135; Member since: Apr 15, 2016

Writer edited it to "first trillion-dollar TECH company"

3. cncrim

Posts: 1590; Member since: Aug 15, 2011

More innovation, can't do tick tock cycle any more.

18. sgodsell

Posts: 7606; Member since: Mar 16, 2013

Here is a simple innovation that Apple could include on their next iPhone X, that is guaranteed to help sell more iPhones. Wait for it! Add a finger print scanner. Simple idea really.

4. midan

Posts: 3213; Member since: Oct 09, 2017

These news are going to be funny to read after Apple quarter numbers. I collected all the best ones "Report Claims iPhone X Sales Not as Strong as Expected in the U.S. Poor iPhone X Sales Are Good News For Apple iPhone X sales ‘below’ expectations due to price, says key analyst Analyst suggests customers prefer cheaper iPhones to the iPhone X Apple's combined iPhone X, 8 and 8 Plus uptake still can't beat the 6 and 6 Plus Chinese tech stocks slump after report that Apple has cut its iPhone X orders by 40%

9. makatijules

Posts: 835; Member since: Dec 11, 2017

Apple cuts production of the iPhone 8, 30 days after it came out. There are lots of people buying the iPhone, and there are twice as .any who are not. Why is that a big deal? Samsung pushed $930 on the 8. After the demise of the Note 7, the last thing Samsung should have did was increase the price. Yes it did have more. But they could have kept the price the same. But Apple charging $999 to only catch up to the S7 edge is a bit steep, even for people with money. An iPhone isnt worth $1000. The Note 8 isn't either and the Note certainly offers more. But if you want them, you have to pay what they ask. I took a BOGO. Without it, I would have kept my S8+. After Jan 1, the iPhone X will be avail on all carriers in a BOGO deal. Right now they already offering $300 off with trade. After it's been on the news Apple purposely slowing phones, they are gonna sell even less. You're the one that gonna be looking crazy, when Apple released their 2017 results. I can assure you they have sold less phones. Time for Samsung to take advantage.

10. midan

Posts: 3213; Member since: Oct 09, 2017

Sounds like you should bet against APPL! you would make lot of money if you are right! So what are you going to do?

5. fyahking

Posts: 1146; Member since: Jan 28, 2015

Lies!!( Piyath? Kiko? Where ya'll at?

11. Mr.Pussy

Posts: 348; Member since: Feb 16, 2017

It's Christmas. Leave them alone.

13. fyahking

Posts: 1146; Member since: Jan 28, 2015

They are not enjoying it after hearing this news.lol

20. kiko007

Posts: 7521; Member since: Feb 17, 2016

The only one apparently not having a good day is you. Keep my name out of your filthy piehole, degenerate swine.

39. Peacetoall unregistered

pot meets the kettle

6. darkkjedii

Posts: 31757; Member since: Feb 05, 2011

Apple needs to put about 10 more killer features (ranging from multitasking to pencil support), and the iPhone line would be absolutely killer. Apple has the best app eco system, top chip makers, and tons of money to do these things. It’s truly time to ditch the ultra conservative approach, and take more chances like Samsung does. Apple could crush the 2018 X Plus out the park, if they’d just loosen the reigns a bit. I like my X a lot, but I do notice what it lacks at the same time.

21. cmdacos

Posts: 4383; Member since: Nov 01, 2016

I'd be willing to use an iPhone if they put their walled garden on opt out. I don't need mommy and daddy holding my hand...

23. darkkjedii

Posts: 31757; Member since: Feb 05, 2011

I can feel you on that bro. It’s a very solid device, and I like owning one, but they need to do more with it. I found this one on Craigslist for $600. Space grey 256 gig AT&T.

28. Furbal unregistered

Really wish they'd let me pick apps. Calendar/calc/mail apps blow compared to what else is out there.

36. Podrick

Posts: 1285; Member since: Aug 19, 2015

Same thing for me. Apple nailed it with iPhone X other than that stupid ugly notch and high price. Not many things to complain about when it comes to hardware. But iOS will always hold me back from getting one.

8. skyline88

Posts: 701; Member since: Jul 15, 2013

iBadsales

25. Nexus4lifes

Posts: 303; Member since: Feb 13, 2014

So the big push from iphonearena didn't really work :):)

27. apple-rulz

Posts: 2198; Member since: Dec 27, 2016

I hate the iPhone X and in my opinion it’s an overall failure, but that aside, there is no denying where Apple shines; iMessage, Apple Music, ecosystem. Those three areas alone pretty much guarantee a loyal user base that any other company would kill to have. I just got an 8 Plus and I’m cautiously optimistic about what Apple will do in 2018.

30. Derekjeter

Posts: 1573; Member since: Oct 27, 2011

So what happened to all those that said iPhone X orders were strong and it was breaking all kinds of records? Can someone please tell me what record did it break? Like I said the only record it’s breaking is for returned device of the year.

32. Bondurant

Posts: 787; Member since: Jun 04, 2014

Despite all the fake news and paid reviews, Iphone x not doing well.

33. Phantom1031

Posts: 267; Member since: Aug 02, 2014

Iphone X(eks) and iphone 8,8+ could not come closer to iphone6,6+ sales because people are happy with their older idevices, why would they pay that much and ios looks almost same on all idevices, whether old or new

40. plumix

Posts: 75; Member since: Aug 28, 2014

All the people that I know that haved the 6 and 6s got to change it for 7 because their phone was acting like s**t last year. Know they know why ithrottle, and wont buy iPhone anymore. That's a sad news for apple, For my self, I stay away from apple, for to things, closed and limited ios, And iTune that is s**t.

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