Apple Cuts New iPhone Production by 30 Percent

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Many iPhone suppliers have cut their quarterly profit estimates after a large customer, which is nearly certainly Apple, reduced its orders.

The company slashed production of all three of its new iPhone models - the XR, XS, and XS Max - according to a report from the Wall Street Journal.

Lower-than-expected demand for Apple Inc.'s new iPhones and the company's decision to offer more models have created turmoil along its supply chain and made it harder to predict the number of components and handsets it needs, people familiar with the situation say.

Hall said there is increasing evidence that Apple's ability to maintain its pricing power is waning.

Shares of Apple suppliers were also hit, with Lumentum Holdings Inc, Universal Display Corp, Cirrus Logic Inc and Skyworks Solutions Inc down between 2.6 per cent and 6 per cent.

Les oppositions critiquent l'intransigeance de l'exécutif — "Gilets jaunes"
Selon le ministre, les dégradations ont été nombreuses lors de cette mobilisation, rapportant l'interpellation de 282 personnes. De nouveaux rassemblements ont eu lieu dimanche sur quelque 150 sites, selon le ministre de l'Intérieur Christophe Castaner.

Trading volumes were also thin in the holiday-shortened weekend ahead of Thanksgiving Thursday and short trading session on Friday, which added a little bit of volatility to the markets, Frederick said.

Apple stock was down 3.8% to $178.81 early on Tuesday. "A unit of sale is less relevant to us today than it was in the past", Maestri said.

Boeing Co and Caterpillar Inc, seen as trade sensitive stocks, fell 1.5 per cent and 1 per cent, respectively.

China's Inc slipped 3% after reporting third-quarter revenue below analysts' estimates on sluggish sales in its core e-commerce business. Declining issues outnumbered advancers for a 1.79-to-1 ratio on the Nasdaq.

The S&P index recorded 22 new 52-week highs and three new lows, while the Nasdaq recorded 11 new highs and 39 new lows.