Apple stock drops suddenly on report of slow iPhone production through June
Apple is down over 1% to $111 per share on Friday after a Nikkei report claimed that iPhone production will remain slow through June.
Last quarter, Apple made the unusual measure of adjusting its guidance down, saying that there will be a seasonal slowness this year in iPhone sales, and that the company expects sales to fall year-over-year for the first time.
CNBC also reports that Apple suppliers are seeing their share price fall on the report.
There is actually no consensus on whether Apple will actually see slower than expected iPhone sales this quarter.
"iPhone builds imply stabilizing units. As we noted in our note, Apple supply chain better than feared, our Asia team and our own checks suggest that builds are stabilizing," Credit Suisse analysts wrote in a note distributed on Friday.
We'll see just how many iPhones Apple sold on April 25, when the company reports its first quarter earnings.
Here's the Apple drop:
