The shares of Genius and Pegatron fall for the second day after a report that says that the iPhone X demand will be below expectations in the first quarter.
The Economic Daily of Taiwan and some analysts have published reports of sales of the iPhone X that show that Apple’s flagship smartphone is not having sales as good as expected. The Taiwanese newspaper published on Monday that Apple will cut its sales forecast for iPhone X for the first quarter to 30 million units , below the 50 million units originally planned.
Apple has not publicly disclosed its quarterly sales targets for the iPhone X, which went on sale in November, but some US analysts also point to disappointing demand . This is the case of JL Warren Capital, which forecasts quarterly shipments of only 25 million units, given the “high price and lack of interesting innovations”.
These bad sales reports of the iPhone X are negatively affecting the shares of several Asian suppliers of Apple, which fell on Tuesday for the second day in a row.
Thus, according to Venture Beat , the most affected Apple suppliers are Genius Electronic Optical Co. Ltd. , which fell 2.4% today to add losses of 11.4% so far this week. Pegatron Corp. is also down, 3.2%. Foxconn is better , one of the main suppliers of the apple company, which has lost only 1.8% in these two days.
Meanwhile, Apple’s shares , which have risen more than 50% in 2017, are also falling and are currently valued at $ 170.33, with a market capitalization of $ 874,450 million.