Apple suppliers drop as Chip Crunch hits iPhone production – .

Apple suppliers drop as Chip Crunch hits iPhone production – .

(Bloomberg) – Suppliers to Apple Inc. dropped out on Wednesday after Bloomberg said the tech giant would likely reduce its iPhone 13 production target to 2021 due to chip shortages, citing people with knowledge of the topic.
Japan Display Inc., which derives more than half of its revenue from Apple, fell 5.6%, the highest in more than two months, while South Korean parts maker LG Innotek Co. fell 6.2%. They joined US suppliers from Broadcom Inc. and Texus Instruments Inc. to Skyworks Solutions Inc. and Cirrus Logic Inc., which fell in aftermarket trade.

For a list of suppliers, click here.

Signs had already appeared in recent corporate files of supply chain disruptions caused by the pandemic and intensified by the global energy crisis.

Apple’s acoustic parts maker AAC Technologies Holdings Inc. has fallen more than 10% in Hong Kong since Thursday’s close after a profit warning citing supply chain issues, among other reasons. The Hong Kong stock market was suspended on Wednesday due to a typhoon.

Meanwhile, the world’s largest chip packer, ASE Technology Holding Co. – which derives about a third of its revenue from Apple – halted production at a factory in China last month citing government restrictions on the energy consumption.

© 2021 Bloomberg LP


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