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Apple’s market value drops $45 billion in a week on fears of plunging iPhone X demand

January 29, 2018


Apple shares are dropping Monday after a report that the company ordered a drastic cut in iPhone X production.

Nikkei reported Monday that the tech giant told its suppliers to reduce iPhone X production to 20 million units for the first quarter from the more than 40 million units target Apple gave in November. The news agency cited weaker-than-expected sales results at the end of the holiday season as the reason for the move.

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