Apple Jitters Mount on Concerns of Waning Smartphone Demand

Posted On April 19, 2018 1:59 pm

Jitters are growing over the durability of Apple Inc.’s iPhone business.

Taiwan Semiconductor Manufacturing Co., a major Apple supplier, on Thursday gave a forecast for second-quarter sales that fell short of analysts’ estimates, in part reflecting a slowdown in the global smartphone market. Earlier this week, the International Monetary Fund said the industry may have peaked. In its latest outlook for the world economy, the IMF said smartphone shipments declined for the first time.

Apple shares fell 1.7 percent in premarket trading. U.S.-traded shares of TSMC fell 5.2 percent in early trading in New York.

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