Yesterday's miraculous dip-buying in Apple stock has been erased as yet another wourse raises concerns about iPhone production:
- *APPLE MAY CUT IPHONE 6S, 6S PLUS PRODUCTION BY ~30%: NIKKEI
- *APPLE SEEN CUTTING IPHONE 6S, 6S+ OUTPUT ~30% IN JAN-MAR:NIKKEI
The stock is down 2.5% on the news. Time to unleash moar buybacks!!
As Bloomberg reports,
Apple may cut iPhone 6s and 6s Plus production by ~30% in January-March quarter vs original plans, Nikkei reports without saying where it got the information.
AAPL initially told parts makers to keep production for quarter at same level as iPhone 6 and 6 Plus year earlier
Production expected to return to normal levels in April-June quarter
Nikkei says cos. likely to see drop in shipments include Japan Display, Sharp and LG Display, Sony, TDK, Alps Electric and Kyocera
And AAPL is tumbling...