Shares of the tech giant slid 2.5% to $170.57 on Tuesday on growing fears of cooling iPhone X demand. Sinolink Securities said in a new report Monday that iPhone X shipments in the first quarter may be a whopping 10 million below their prior estimate. It marked the third report in under a week to cite the iPhone X's $1,000 price tag as stunting consumer demand.
One report in particular should bring fear to Apple bulls. According to a Dec. 24 report from Economic Daily News, Apple may see 30 million units of the iPhone X sold in the first quarter compared to a previous forecast of 50 million.
The speculation on how the iPhone has fared quickly spread to Apple supplier stocks on Tuesday. Prices below are as of 11:15 a.m. EST.
- Lumentum Holdings (LITE - Get Report) -5.8% (3D sensor supplier)
- Cirrus Logic (CRUS - Get Report) -1.6% (audio chip maker)
- Skyworks Solutions (SWKS - Get Report) -1.9% (radio frequency semiconductor supplier)
- Finisar Corporation (FNSR - Get Report) -4.3% (chip maker that just landed a $390 million investment from Apple)
- Broadcom Limited (AVGO - Get Report) -1.6% (radio-frequency, Wi-Fi and wireless charging chip supplier)
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