Chinese tech stocks slump after report that Apple has cut its iPhone X orders by 40%
by Daniel Petrov / Dec 25, 2017, 9:58 AM
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.
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.co
posted on Dec 25, 2017, 10:11 AM 10
Posts: 1813; 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.
posted on Dec 25, 2017, 10:20 AM 1
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.
posted on Dec 25, 2017, 12:41 PM 12
Posts: 93; Member since: Nov 15, 2017
Yayyy. IphoneX is not selling as well as was expected https://www.macrumors.com/2017
posted on Dec 25, 2017, 1:29 PM 5
Posts: 7166; 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?
posted on Dec 25, 2017, 1:35 PM 14
Posts: 1586; Member since: Aug 15, 2011
More innovation, can't do tick tock cycle any more.
posted on Dec 25, 2017, 11:12 AM 1
Posts: 2681; 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%
posted on Dec 25, 2017, 11:19 AM 5
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.
posted on Dec 25, 2017, 12:12 PM 10
Posts: 1146; Member since: Jan 28, 2015
Lies!!( Piyath? Kiko? Where ya'll at?
posted on Dec 25, 2017, 11:26 AM 9
Posts: 348; Member since: Feb 16, 2017
It's Christmas. Leave them alone.
posted on Dec 25, 2017, 12:28 PM 0
Posts: 30959; 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.
posted on Dec 25, 2017, 11:37 AM 6
Posts: 7157; Member since: Dec 02, 2011
iPhone does multitasking very well.
posted on Dec 25, 2017, 1:33 PM 2
Posts: 7157; Member since: Dec 02, 2011
There are a lot of useful features that are all over the Android devices and I would love to have on the next iPhone (if I'm going to get one 2 or 3 years from now - yes, last year's iPhone is so good that I can do with it everything I want from a smartphone), but you (and I mean all of you) ignore my messages where I'm talking about them. As you have said, the majority of users don't know how to use their phone to do stuff (I gave a lot of "for instance" on this site; look at the dude that is talking about multitasking), that's why only a few people understand what I'm saying and I'm ok with that.
posted on Dec 26, 2017, 11:53 AM 0
Posts: 7157; Member since: Dec 02, 2011
If you didn't knew, multitasking is the ability to run multiple apps at the same time - a thing that iPhone does better than any Android device (I counted 100 apps opened at the same time on my iPhone - is there an Android device that can do the same?). I don't know about you, but I have a 10" Windows 8 powered tablet that I seldom split the screen on, because 10" is... too small; imagine how dumb it would be to split a 5.5" display... And I have "landscape mode" all over my iPhone (the smaller one): video, games, browser, messages and a lot of other apps; whatever do you mean "iPhone doesn't even have a landscape mode"?
posted on Dec 26, 2017, 11:35 AM 0
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