Apple slides after one of its facial recognition suppliers cut its outlook, hinting at weak iPhone orders

Apple slides after one of its facial recognition suppliers cut its outlook, hinting at weak iPhone orders

5 years ago
Anonymous $L9wC17otzH

https://www.cnbc.com/2018/11/12/apple-stock-slides-after-supplier-lumentum-cuts-outlook.html

Apple shares fell as much as 4 percent in early trading Monday after one of its facial recognition suppliers cut its outlook, citing a reduced shipment request from one of its largest customers.

Lumentum, a manufacturer that makes lasers capable of sensing in 3D, announced the reduced outlook in a press release Monday. The company creates components for the front-facing camera of Apple's newer iPhones that enable FaceID and augmented reality. The report builds speculation around the success of Apple's latest iPhones as the holiday season approaches. Last week, Nikkei reported that Apple stopped a production boost for its new iPhone XR.