Apple Shares Sink After iPhone Suppliers Lower Outlooks
Japan Display and Lumentum Holdings both lowered their earnings forecasts
Apple Inc. shares sank further on Monday, as investors’ worries deepened about sales of new iPhones after two key suppliers for the device cut their earnings projections for coming months.
Japan Display Inc., which supplies screens for the iPhone XR, cut earnings estimates for its fiscal year ending in March. It said orders for its latest LCD panels would be much lower than its initial expectations for the three months ending in March.
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