Micron, Universal Display stocks fall after reports of weak demand for Apple’s iPhone X

Shares of numerous Apple Inc. suppliers are falling in Tuesday morning trading, following reports of weak demand for the iPhone X. Micron Technology Inc. shares dropped 4%, while shares of Cirrus Logic Inc. Broadcom Ltd.’s are both down 2.2%. Firms whose equipment enables the iPhone X’s 3D-sensing technology also saw their shares fall, with Lumentum Holdings Inc.’s stock down 4.3% and Finisar Corp.’s down 2.3%. Shares of Universal Display Corp. dropped 4.9% in morning trading. Apple’s stock is down 2.2% Tuesday but up 47% so far this year. The Dow Jones Industrial Average is up 25% in 2017.

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From:: Stock Market News

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