Reuters notes that two other companies were hit. Dialog Semiconductor, which supplies power management chips to Apple, fell 5.4% while STMicro fell as much as 4% in early trading.
Barclays analyst Andrew Gardiner said that poor iPhone X sales were the reason. “The imminent end-of-life for iPhone X is leading to a deeper trough than the most cautious of estimates.”
Why is the iPhone X not selling like hotcakes?
- The iPhone X notch is here to stay – maybe. The Asian market has voted that they don’t like it despite Huawei emulating it on the latest P20/Pro. “The top-notch phone isn’t what it is cracked up to be.”
- The eye-watering price does not help. “Apple will never concede that at $1549 it is far too expensive … Time for Apple to get a reality check methinks.”
- The feature set is not sufficient to entice iPhone 6/7 users to migrate. Comments usually follow, “It does nothing that I need or want to do that my iPhone 7 can’t do for half the price. How stupid do you think we are? Very obviously.”
- Macworld reports, “All the latest problems to afflict the iPhone X, including unresponsive screens, incoming call delays, Face ID security, buzzing speakers, headaches and a green line…”
- Qualcomm simply wants the iPhone X gone – and is trying to sue Apple accordingly
Please don’t get GadgetGuy wrong – we believe Tim Cook’s oft-repeated, trite, cliché, “It is the best iPhone ever made” just as Steve Jobs et al. have described every other iPhone.