Report says Apple iPhone 7 and iPhone 7 Plus had 25% lower sales year-over-year on launch weekend
This isn't the first time that GfK has rocked Apple with a report. Last year, the company looked at sales channels and said that turnover of the Apple iPhone 6s and Apple iPhone 6s Plus was not as strong as CEO Tim Cook was saying it was.
Also playing a part in the decline of Apple's shares today is a report from Digitimes. Released early Friday morning, the story called for a 20% sequential drop in first quarter chip orders for the iPhone 7 and iPhone 7 Plus. The prediction was made by analog chip suppliers. Apple reportedly asked its chip suppliers to keep integrated circuits in stock for 50 million iPhone units during the third quarter, declining to 45 million for the fourth quarter. For the first quarter of 2017, orders have been reduced even more as Apple is asking for enough chips to build 35 million to 37 million iPhone units.
For all of 2016, Apple is said to be pushing suppliers to build 100 million iPhone 7 and iPhone 7 Plus units. That is actually above the 80 million to 85 million handsets that Apple's suppliers were estimating for this year.
Apple's shares closed down 1.7% on Friday, ending the week at $112.71.
source: ZeroHedge, Digitimes