Apple shares flirt with correction territory

Suppliers asked to scale back shipments of parts for upcoming iPhone X

Shares of Apple Inc dipped on Monday and flirted with correction territory following a report that the company had told suppliers to scale back shipments of parts for its upcoming iPhone X.

Digitimes, citing unnamed sources, reported that Apple suppliers were shipping just 40 percent of the components originally ordered for the premium phone, which goes on sale in early November.

That added to concerns on Wall Street about demand for Apple’s new devices after the launch on Friday of the iPhone 8, a less expensive model than the iPhone X, drew smaller crowds than previous launches.

http://www.reuters.comTue.,  26  September 2017