Apple, semiconductors are trading lower for the second day in a row after the Nikkei reported that Apple canceled planned production increases for the low-end iPhone XR
Apple (AAPL -2.2%) led suppliers lower on Friday after the company missed Q4 iPhone unit sales estimates, guided Q1 below consensus and said it would stop disclosing unit sales data, signaling unit growth would be hard to come by in the increasingly saturated smartphone market.
Overnight, the Nikkei reported that Apple cancelled increasing production of the newest low-end iPhone XR. On the other hand, Nikkei reported demand for the older generation iPhone 8 and 8 Plus are higher than expected. A higher mix of the iPhone XS/XS Max would improved ASPs for Apple.
Apple has fallen to a three-month low; chip stocks (SMH -0.5%)/Apple suppliers: QRVO -5.05% CRUS -4.19% STM -3.10% AAPL -2.42% AMD -2.20% SWKS -1.96% ASML -1.73% MXWL -1.56% AVGO -1.25% STX -1.49% FORM -1.04% MRVL -1.36%