Apple Inc. (AAPL) - Get Apple Inc. (AAPL) Report shares were indicated lower in pre-market trading Thursday and its listing on the Frankfurt exchange tumbled amid speculation that orders for the new iPhone 8 may be less robust than forecast.
Taiwan's Economic Daily newspaper reported Thursday, citing unnamed sources, that several suppliers had been told by Apple that it will cut orders for iPhone8-related components by as much as 50% for the final three months of the year.
Apple shares were marked 1.63% lower in pre-market trading in New York, following Wednesday's 0.44% decline, indicating an opening bell price of $157.16. Apple's listing on the Deustche Boerse in Frankfurt were marked 2.46% lower at €132,764 for 500 units.
However, while several chip-sector names traded sharply lower in Asia following the report, Taiwan Semiconductor Manufacturing Co. (TSM) - Get Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR Report , a major Apple chip supplier, rose 0.63% after it posted a narrower-than-anticipated 7.1% fall in its third-quarter net profit and saw sales rise 1.5% to $8.32 billion from the same period last year.
The group also forecast in-line revenue growth of $9 million for its fiscal fourth quarter, a three-month period which dovetails with the November launch of the much-anticipated iPhone X.
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