Apple suppliers slip on report iPhone maker drops plan to boost phone production

Cirrus Logic

28/09/2022 19:27

(Updates)
    ** Shares of semiconductor companies, which supply to Apple
Inc  AAPL.O , fall premarket after a Bloomberg News report that
said co is dropping plans to increase production of its new
iPhones this year as demand falters
    ** Apple shares down 2.5% at $147.91 after dropping as much
as 4.6% earlier
    ** U.S.-listed shares of Taiwan Semiconductor Manufacturing
Co  2330.TW , a key supplier of Apple's custom chips, fall 2.2%
    ** Analyst Ming-Chi Kuo says AAPL may build its new Apple
Car project team before the end of the year
        ** Kuo adds that iPhone 14 Pro Max accounts for about
60% of the total order increase of Pro models, benefiting iPhone
average selling price for Q4
  
        ** Chip stocks including Nvidia Corp  NVDA.O , Advanced
Micro Devices Inc  AMD.O , Micron Technology  MU.O  and Western
Digital Corp  WDC.O  trade between -0.6% and 1.2% after the
report
    ** Shares of Broadcom Inc  AVGO.O  and Qualcomm Inc  QCOM.O 
fall 0.2% and 1%, respectively
 (Reporting by Chavi Mehta and Akash Sriram in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))