Apple Shares fall after Analysts Cut iPhone X Demand Forecast

Shares of Apple Inc. (NASDAQ: AAPL) fell on Tuesday after some analysts projected that the demand of iPhone X could be lower than expectation in the first quarter of next year.

Taiwan’s Economic Daily News said that Apple may lowered its sales forecast of iPhone X to 30 million units, down from its previous forecast of 50 million, citing unidentified supply chain officials.

The Taiwanese newspaper’s report sent the shares of Apple’s Asian suppliers fell on Monday/

According to Bloomberg, Sinolink Securities Co. analyst Zhang Bin also said in a report Monday that the shipments of iPhone X could come as low as 35 million in the first quarter, below its previous estimated of 45 million.

"After the first wave of demand has been fulfilled, the market now worries that the high price of the iPhone X may weaken demand in the first quarter," Zhang wrote.

U.S.-based JL Warren Capital have also lowered their estimates of the handset shipments. The research firm is predicting shipments of just 25 million units. “weak demand because of the iPhone X’s high price point and a lack of interesting innovations,” the New York-based research firm said in note to clients Friday.

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