Apple Suppliers Drop in Asia Trading on Missed Profit Target
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Apple Inc. suppliers Samsung Electronics Co. and Toshiba Corp. led declines in Asian trading and Hon Hai Precision Industry Co., the iPhone and iPad assembler, fell after the world’s most valuable tech company missed profit estimates.
Toshiba, the world’s largest flash memory maker after Samsung, slumped 7.3 percent, the steepest drop since the plunge after Japan’s March 11, 2011 earthquake, to 242 yen at the close of trading in Tokyo. Hon Hai dropped 4.3 percent, the biggest slump since April 30, to NT$81.90 at the Taipei close.