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Apple loses $14 bn in m-cap as shares dip on reports of weak iPhone X sales

Apple Inc will halve its iPhone X production target for the first three months of the year to around 20 million units

Reuters 

Apple Inc will halve its iPhone X production target for the first three months of the year to around 20 million units, Nikkei reported on Monday, sending its shares down 1.6 per cent. The report added to growing concerns about weak sales of the $999 phone, making investors jittery about the company's financial outlook when it reports first-quarter results on Thursday. Apple's shares fell to their lowest level in 2018, knocking off $14 billion from the company's market value. The company declined to comment. Analyst Toni Sacconaghi of Bernstein cut both his ...

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First Published: Tue, January 30 2018. 07:56 IST
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