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Shares in Apple’s Japan suppliers stumble over iPhone sales

28
Jan
2014

Shares in Apple Inc’s Japanese component makers took a beating on Tuesday after the U.S. tech giant missed Wall Street’s target for iPhone sales over the key holiday shopping season and offered a weaker-than-expected outlook. The world’s most valuable technology company sold a record 51 million iPhones in the December quarter, but that was shy of the 55 million or so analysts had expected, reflecting intense competition from arch-rival Samsung Electronics Co Ltd during the crucial period. Apple shares sagged 8 percent in after hours trading following the announcement. The results weighed on Apple’s Japanese suppliers, with Alps Electric Co Ltd, Taiyo Yuden Co Ltd, TDK Corp and Nitto Denko Corp down between 0.9 and 3.9 percent.

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