Due to weak demand for iPhone X, shares of Apple Inc. including its suppliers dipped low earlier this week. This comes after a report published by Taiwan Economic Daily, saying that Apple iPhone X’s demand is low in the first quarter.
Apple shares fell 2.5 percent to $170.57
Since Apple debuts the iPhone X, its shares fell 2.5 percent to $170.57 on Tuesday, December 26. Before launching the iPhone X, the company’s shares surged 45 percent this year as some of the investors expect that iPhone users will buy iPhone X.
However, financial analysts have mixed reactions with Apple’s shares. They are not even certain if such demand has something to do with the premium device, the iPhone X since its sports a Face ID technology that unlocks the phone , and a full screen display.
Apple to sell 30 million units of iPhone X
With this, the Cupertino-based tech company plans to reduce the number of iPhone X units that will be sold for a given quarter. Citing the Taiwan Economic Daily report, it said that Apple is mulling to sell 30 million units of iPhone X, far from the initial plan of 50 million units globally.
To date, Apple has yet to publicly disclose its target sales for the quarter. The company went on sale back in November with iPhone X having a price tag of $999.
When asked about the company’s quarterly sales, a spokesman said that Apple does not respond to rumors prevailing in the market.