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Apple suppliers drop after Largan warns of lower Dec. revenue

Published 12/06/2017, 11:55 AM
© Reuters.  Apple suppliers drop after Largan warns of lower Dec. revenue
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  • Apple (NASDAQ:AAPL) supplier Largan Precision (OTC:LGANF) warns of lower December revenue compared to the previous month.
  • Largan had $187.2M in November sales, which was flat on October but up 8% on the year.
  • The revenue drop comes in a period that’s traditionally strong for iPhone shipments. Largan supplies lenses and Face ID modules for the devices.
  • Taiwan’s Economic Daily News reports that Largan’s weak December comes from a drop in orders but didn’t specify from which customers.
  • Yuanta Investment Consulting analyst Jeff Pu thinks Apple has cut back iPhone X orders from 69M to 63M for the November to March period after previously cutting iPhone 8 and 8 Plus for 1Q18 to 16M units, half of the current quarter.
  • Apple suppliers moving on the news: Skyworks Solutions (SWKS -0.8%), Cirrus Logic (CRUS -1.6%), Broadcom (AVGO -1.2%), and Qorvo (QRVO -3.8%).
  • Now read: Apple Stock: Focus On The Big Picture


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