Apple heads into the new year with some unusually downbeat news: Its new iPhone X isn’t proving to be quite the sales darling that some of its previous smartphones have been.Shares of the Cupertino, California, tech giant closed at $170.57, down 2.5% Tuesday, after several market analysts forecast lower-than-expected demand for the latest iPhone, with its edge-to-edge screen, face-recognition software and lofty price. For the year, Apple shares are up 45%.Apple could cut its sales forecast for the first quarter of 2018 to 30 million units, down from an initial target of 50 million, according to a report in Taiwan’s Economic Daily News cited by Reuters.Similar reports cited the high price of the iPhone X, released last month and featuring a base price of $999, as a reason for lower demand and lower shipments.A number of other Apple-watchers echoed that downbeat forecast.In the current October-December 2017 quarter, shipments were estimated to be down to 25 million from an expected 30 million, said JL Warren Capital in a report released Friday cited by Bloomberg. The New York-based equity firm, which focuses on Chinese companies, based its estimated on lower orders placed at Apple’s suppliers. More: Want the iPhone X? It doesn’t have to… Read full this story
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