Today hasn’t been a good day for Apple (AAPL) supplier Largan Precision in Taiwan. It reported about a 29% decline in its revenues in its latest earnings report. The company supplies smartphone camera lenses, and its stock crashed 10% on Thursday. We’re seeing yet another incident of an Apple supplier reporting weak results after Qorvo (QRVO), Cirrus Logic (CRUS), and Lumentum (LITE) all reported weak guidance for the current quarter.
These results show that iPhone sales could be weaker than expected for the most important holiday quarter. In addition to weak sales, the uncertainty around the US–China trade war is also taking a toll on the markets in general and tech stocks in particular. Apple shares are already down about 23% since the beginning of November, and there may be more downside to the stock in the coming days. So be careful.