Suppliers for Apple ($AAPL) slipped lower Thursday following Apple’s announcement of a slowdown in China due to Trump’s tariff policies, a strong USD among other macro factors. Companies supplying sensors, microchips and accessories are all in the red as tech stocks continue the selling trend from 2018.
Some of the biggest losers are:
- Austrian company AMS AG was leading the selloff down 20%
- STMicroelectronics was down nearly 10%
- Dialog Semiconductor, UK-based semiconductor manufacturer, slipped roughly 8%
Apple is already down over 30% the past few months, but this slowdown announcement shouldn’t come as a surprise. They have been warning of this for a while now, this just makes it official. I wouldn’t be surprised to see this as a “buy the dip” scenario especially as Trump progresses trade talks with Chinese Presisdent Xi Jinping. “Just had a long and very good call with President Xi of China,” Trump wrote on Saturday via his twitter account. “Deal is moving along very well!”