Apple plunges after Nikkei reports iPhone production cuts up to 30%

(From Zero Hedge)

Yesterday’s miraculous dip-buying in Apple stock has been erased as yet another wourse raises concerns about iPhone production:

  • *APPLE MAY CUT IPHONE 6S, 6S PLUS PRODUCTION BY ~30%: NIKKEI
  • *APPLE SEEN CUTTING IPHONE 6S, 6S+ OUTPUT ~30% IN JAN-MAR:NIKKEI

The stock is down 2.5% on the news. Time to unleash moar buybacks!!

As Bloomberg reports,

Apple iPhone 6

Apple iPhone 6

Apple may cut iPhone 6s and 6s Plus production by ~30% in January-March quarter vs original plans, Nikkei reports without saying where it got the information.

AAPL initially told parts makers to keep production for quarter at same level as iPhone 6 and 6 Plus year earlier

Production expected to return to normal levels in April-June quarter

Nikkei says cos. likely to see drop in shipments include Japan Display, Sharp and LG Display, Sony, TDK, Alps Electric and Kyocera

And AAPL is tumbling…Read more

Here’s the Nikkei story: Parts makers brace for iPhone production cut



Categories: Asia Unhedged, Japan

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