Apple’s Asian Suppliers Slip as Market Awaits iPhone 12 Boost
Apple’s sales in the Greater China region in the latest quarter fell 29% to $7.9 billion, the lowest since 2014.
Photographer: Greg Baker/AFP via Getty Images
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Shares of Apple Inc.’s Asian suppliers dipped after the global tech titan reported iPhone sales that missed analyst estimates and said revenue in China slumped.
Apple shares dropped 4% in after-hours trading after the company reported that sales of the iPhone fell 21% in the September-ended quarter on anticipation of the newest models, which arrived later than usual this year. Chief Executive Officer Tim Cook said the response to the new iPhone 12 line, which was launched earlier this month, has been “tremendously positive.”