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Another Apple supplier has announced its annual forecast with UK chip maker IQE. Base profit will likely be 16.4% lower than the current year compared to a year ago, IQE said Tuesday. Previously, Apple's supplier, Lumentum, a leading producer of iPhone face recognition technology, also reduced its sales and profit forecasts by referring to reduced orders from one of its larger customers.
The darker outlook is due to fears of stagnating iPhone sales. By early November, Apple had already warned that sales in the major Christmas quarter would likely be lower than predictions on Wall Street. Tuesday, clbades given by several Apple suppliers in Asia have again declined.
The decline in suppliers' opinions also led Monday to a 5.04% decline in Apple's shares. Market share and IQE fell by around 30% at the beginning of the week. And in Zurich, the actions of the chip and sensor manufacturer in Styria were on their knees. The newspaper lost more than 20% and sank for the first time in less than 30 francs in two years. The descent continued on Tuesday. Ams lost more than four percent in the morning to CHF 28.58.
Analysts at Hauck & Aufhaeuser lowered the price of Ams paper from purchase to sell and lowered its price target from 80 to 23.60 francs.
(Reuters)
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