Chinese technology stocks fall after news that Apple has reduced its orders for the iPhone X by 40%

Apple is a company that can make or break its suppliers’ assets, which is why when reports came out that the giant Silicon Valley reduced its prediction of the iPhone X from 50 to 30 million. The number of Chinese technology stocks was pretty devastating, swim in a sea of ​​red, as seen in the image of the stock market below.

All that was needed was a report published in a Taiwanese supplier to Apple Lens Technology, which lost 8%, for example. The report said that Foxconn Zhengzhou factory, where the iPhone X is mounted, has stopped recruiting new blood, and some anonymous sources claim that because of the possible reduction of about 40% of Apple. This comes immediately after other warnings about the launch of new iPhones and analysts to reduce the stock of their Apple goal of “buy” to “hold”.

Market research firm JL Warren Capital LLC also warned that phone shipments following the first $ 999 users and offering their own chain suppliers would prove the fall in Apple’s orders as evidence. There is a “weak demand because of the high price of the iPhone X and the lack of interesting innovations,” argues Store Market Intelligence, adding that “the bad news is that X is touted and not the increased global demand.”

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