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Apple Suppliers Tumble on New Signs of Weak iPhone Demand

  • Japan Display slashes forecasts for sales growth, margins
  • Lumentum: big customer asked to cut shipments just days ago
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Apple Suppliers Drop on Signs of IPhone Demand Weakness
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Major suppliers to Apple Inc.’s iPhone fell Tuesday as investors fretted that one of the most important product lines in the technology sector was seeing weak demand.

In Asia, Japan Display Inc. slashed its forecasts for sales growth and operating margins, citing volatile customer demand. JDI, which makes LCD screens used in the iPhone XR, plunged as much as 11 percent to its lowest since debuting in 2014. Lumentum Holdings Inc. plummeted a record 33 percent after cutting its second-quarter outlook when one of its largest customers asked to “meaningfully reduce shipments” for previously placed orders.