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Apple shares skid on report of iPhone X production cut

January 29, 2018

Via: Reuters
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Apple Inc (AAPL.O) will halve its iPhone X production target for the first three months of the year to around 20 million units, Nikkei reported on Monday, sending its shares down more than 2 percent in early trading.

The report added to growing concerns around weak sales of the $999 phone, making investors jittery about the company’s financial outlook when it reports first-quarter results on Thursday.

Apple shares fell to their lowest level in 2018 on Monday, knocking off $14 billion from the company’s market value.

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