Apple Inc’s (AAPL.O) Asian supplier and assembler stocks fell on Tuesday on a media report that the iPhone maker had told its smartphone assemblers to halt plans for additional production lines dedicated to its new iPhone XR.
Taiwan-based assembler Pegatron Corp (4938.TW) fell 5 percent and rival Hon Hai Precision Industry Co Ltd (Foxconn) (2317.TW) dropped 3.6 percent. Apple is widely considered the biggest customer for Foxconn.
Apple shares fell nearly 4 percent on Monday after the report by the Nikkei financial daily, which fueled concerns that the iPhone XR - the cheapest of three iPhones unveiled in September - was facing weak demand just days after it went on sale.
The Nikkei, citing supply chain sources, said Apple had also asked smaller iPhone assembler Wistron Corp (3231.TW) to stand by for rush orders, but the firm would receive no planned orders for the iPhone XR this season. See more...