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Wall Street set to open lower on iPhone worries


By Ankur Banerjee(Reuters) - U.S. stock futures were dragged lower on Friday by falls in shares of Apple and its suppliers, including Advanced Micro Devices and Qualcomm, following a report that the iPhone maker was planning to produce fewer new phones this year than last.Apple Inc shares were down 1.3 percent in premarket trading after a newspaper report saying the company had asked its supply chain to manufacture about 20 percent fewer components for iPhones in the latter half of 2018. Investors were also cautious ahead of a contentious G7 summit in Canada, with U.S. President Donald Trump ...

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First Published: Fri, June 08 2018. 18:45 IST