Shares of Apple suppliers crumble after lensmaker reports more than 25 percent decline in revenue

Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent. The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday that followed the arrest of Huawei’s CFO in Canada. Apple’s stock was not trading on Wed


Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent. The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday that followed the arrest of Huawei’s CFO in Canada. Apple’s stock was not trading on Wed
Shares of Apple suppliers crumble after lensmaker reports more than 25 percent decline in revenue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: eustance huang, stephanie keith, getty images
Keywords: news, cnbc, companies, shares, apple, revenue, unit, maker, crumble, decline, 25, tech, stock, lensmaker, price, market, hsbc, suppliers, reports


Shares of Apple suppliers crumble after lensmaker reports more than 25 percent decline in revenue

Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent.

“The sell-off isn’t surprising, since several major Apple suppliers — including Cirrus Logic, Qorvo, and Lumentum — all recently slashed their guidance, which suggests that Apple’s iPhone shipments (have) peaked,” Leo Sun, a tech and consumer goods specialist at The Motley Fool, told CNBC in an email.

The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday that followed the arrest of Huawei’s CFO in Canada.

Beyond the cutting of suppliers’ guidance, Sun said many questions surrounding the U.S.-China trade dispute “remain unresolved, with both sides offering conflicting versions of the agreement” that was made last weekend between the countries’ leaders at the G-20 summit in Argentina.

Beyond that, he said: “The flattening (and potentially inverting) yield curve in the US bond market also strongly indicates that the economy is slowing down — which will throttle demand for chips across multiple industries.”

Apple’s stock was not trading on Wednesday as the U.S. stock markets were closed in honor of former president George H.W. Bush. The Cupertino-based tech giant saw its shares fall about 4.40 percent on Tuesday after HSBC downgraded the company to hold from buy and cut its 12-month price target to $200 from $205.

“Apple’s iconic hardware unit growth is broadly over for now,” HSBC analysts said in the note.

“Revenues are only supported by higher selling prices and by the development of services. Flat unit growth has hit Apple’s share price and incidentally its key suppliers. What has made the success of Apple, a concentrated portfolio of highly desirable (and pricy) products is now facing the reality of market saturation,” they said.

— Reuters and CNBC’s John Melloy contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: eustance huang, stephanie keith, getty images
Keywords: news, cnbc, companies, shares, apple, revenue, unit, maker, crumble, decline, 25, tech, stock, lensmaker, price, market, hsbc, suppliers, reports


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Trump administration to Iran on sanctions: Act like a normal country or see economy ‘crumble’

Companies that engage in sanctioned activity with Iran face the threat of being locked out of the U.S. market. The 180-day period came to a close this week, restoring a heavier slate of sanctions on Iran than a first round that went into effect after the 90-day grace period. Pompeo on Monday released a list of countries that can continue importing Iranian oil for the time being, including Iran’s top two customers, China and India. “I could get the Iran oil down to zero immediately but it would c


Companies that engage in sanctioned activity with Iran face the threat of being locked out of the U.S. market. The 180-day period came to a close this week, restoring a heavier slate of sanctions on Iran than a first round that went into effect after the 90-day grace period. Pompeo on Monday released a list of countries that can continue importing Iranian oil for the time being, including Iran’s top two customers, China and India. “I could get the Iran oil down to zero immediately but it would c
Trump administration to Iran on sanctions: Act like a normal country or see economy ‘crumble’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: tom dichristopher
Keywords: news, cnbc, companies, crumble, game, companies, economy, administration, country, thrones, sanctions, regime, trump, iranian, iran, normal, irans, pompeo, act, oil


Trump administration to Iran on sanctions: Act like a normal country or see economy 'crumble'

Trump, who has long railed against the nuclear deal as one-sided and flawed, gave foreign companies 90 to 180 days to wind down their business with Iran. Companies that engage in sanctioned activity with Iran face the threat of being locked out of the U.S. market.

The 180-day period came to a close this week, restoring a heavier slate of sanctions on Iran than a first round that went into effect after the 90-day grace period. The latest round largely targets oil exports from Iran, OPEC’s third-largest crude producer.

The European Union, which opposes Trump’s unilateral withdraw from the 2015 Iran nuclear deal, is seeking to preserve the accord and protect the continent’s companies from the sanctions. However, many European firms have cut off ties with Iran rather than risk losing access to the massive U.S. financial and economic systems.

According to the State Department, companies in more than 20 nations have entirely stopped buying Iranian crude, shrinking Iranian oil exports by about 1 million barrels per day and depriving the regime of roughly $2.5 billion in revenue.

Pompeo on Monday released a list of countries that can continue importing Iranian oil for the time being, including Iran’s top two customers, China and India. Italy, Greece, Japan, South Korea, Taiwan and Turkey are also on the list. The waivers will allow them to reduce their purchases over the coming weeks and months.

On Monday, Trump said his administration issued the waivers to prevent a spike in oil prices.

“I don’t want to drive the oil prices in the world up, so I’m not looking to be a great hero and bring it down to zero immediately,” he told reporters. “I could get the Iran oil down to zero immediately but it would cause a shock to the market.”

Trump’s Iran policy has been a major contributor to this year’s oil price rally. Crude futures hit nearly four-year highs last month as the market braced for the loss of the Iranian barrels. Prices have since fallen by about $13 a barrel amid a sell-off in global markets, signs of weaker-than-anticipated oil demand and rising output from major producers.

Monday’s actions designate 50 Iranian banks and their subsidiaries, more than 200 individuals and vessels in Iran’s energy and shipping sector and an Iranian airline and its 65 aircraft.

“Treasury’s imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilizing behavior,” Treasury Secretary Steven Mnuchin said in a statement.

“The maximum pressure exerted by the United States is only going to mount from here. We are intent on making sure the Iranian regime stops siphoning its hard currency reserves into corrupt investments and the hands of terrorists.”

During the press conference on Monday, Pompeo addressed Trump’s tweet on Friday in which the president posted an image of himself tagged, “Sanctions are coming,” mimicking the hit fantasy novels and HBO series “Game of Thrones.” Asked whether the tweet was appropriate, Pompeo criticized the media.

“Much has been made of this ‘Game of Thrones.’ Qassem Soleimani responded, and I haven’t seen any of you comment on that. This is a man who has American blood on his hands. He’s killed American soldiers, and that’s not funny,” Pompeo said, referring to a “Game of Thrones” image released in response by Soleimani, the commander of Iran’s Islamic Revolutionary Guard Corps.

In fact, a number of news outlets reported on Soleimani’s tweet, including The Washington Post, the Daily Mail and the New York Daily News.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: tom dichristopher
Keywords: news, cnbc, companies, crumble, game, companies, economy, administration, country, thrones, sanctions, regime, trump, iranian, iran, normal, irans, pompeo, act, oil


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Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information


Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information
Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent.

In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90.

The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information.

In Taiwan, the tech-heavy Taiex dropped by 6.31 percent to close at 9,806.11, with shares of lens maker and Apple supplier Largan Precision plunging 9.89 percent.

Japan’s markets also faltered. The Nikkei 225 dropped by 3.89 percent to close at 22,590.86 while the Topix index declined by 3.52 percent to end the trading day at 1,701.86, with major sectors down.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


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