Apple Inc (NASDAQ:AAPL) saw its stock dropped over 2.5% in morning trading in New York after shares in suppliers of its iPhone fell in Taiwan today amid reports of a slow down in demand for its flagship product.
In a Christmas Day report, Taiwan newspaper the Economic News Daily said sources had told it that one supplier, Hon Hai had frozen some hiring at one factory.
Shares in both suppliers were lower in Taiwan today, while in New York Apple shares were down 2.5% at US$170.66 at 12.50pm.
Shares of numerous Apple’s US suppliers suffered too with Micron Technology Inc. (NASDAQ:MU) down 4%, while Cirrus Logic Inc. (NASDAQ:CRUS) shed 1%, and Universal Display Corp. (NASDAQ:OLED) dropped 3.5%.
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