Shares of
Apple
suppliers
STMicroelectronics
and
Taiwan Semiconductor
fell Wednesday on a report that said the tech giant was scrapping plans to increase production of its latest iPhones this year due to weaker-than-expected demand.
Dutch-Swiss chipmaker STMicro (ticker: STM) led the decliners, falling more than 5% in early European trading.
Apple
(AAPL) accounted for around 20% of the company’s total revenue in 2021. In Asian trading, Taiwan Semiconductor (TSM) slipped 2.2%, while iPhone assembler
Hon Hai Precision Industry
also known as Foxconn, was close to 3% lower.
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