Apple, iPhone Suppliers Slump as Concerns Grow Over Demand
- Production boost cancelled for iPhone XR model, Nikkei says
- Stock on track for biggest two-day drop since January 2013
This article is for subscribers only.
Shares of Apple Inc. and its major suppliers fell sharply on Monday, following a report that the company was canceling a production boost for its iPhone XR line, adding to concerns about the outlook for its biggest product category.
Apple dropped 2.8 percent at 11:40 a.m. in New York. The Dow component has dropped almost 10 percent over the past two trading sessions, on track for its biggest two-day skid in more than five years.