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Apple's European Suppliers Pounded as Bad Reviews Haunt iPhone September Launch


Apple Inc.'s ( AAPL ) recent market woes look set to continue Monday as the world's biggest tech company struggles to gain control of the negative news headlines surrounding its much-hyped product launch earlier this month.


Apple's European suppliers have also been under pressure of late as investors trim growth expectations following a muted response to the iPhone 8's global launch last week and persistent speculation of delivery delays for the iPhone X, which is due in stores in early November.


AMS AG ( AMSSY ) , a small Austrian firm that supplies 3D sensing chips for the next generation iPhones, was marked 4.4% lower Monday, extending its Apple launch declines to around 11%.


Apple's Asia-based supply chain has suffered, as well, with Taiwan's Hon Hai Precision Industry Co., often referred to as Foxconn, falling 10% since the Apple event while domestic rival Pegatron Corp. and South Korea-based Innoteck Co. suffering similar percentage declines.


"The relative strength index and the TRIX indicator, which is a triple exponentially smoothed moving average designed to filter out insignificant price movement, had been in bearish divergence to the stock price prior to the announcement and have continued to track lower," he added.




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