Apple suppliers fall after Largan Precision reports revenue decline

Elsewhere in Asia, shares of Japanese electronic parts maker TDK fell 6.64 percent while component supplier Murata Manufacturing shed 5.30 percent. South Korean industry heavyweight Samsung Electronics also fell 2.29 percent while Hong Kong-listed acoustic components maker AAC Technologies declined by 5.59 percent.

“The sell-off isn’t surprising, since several major Apple suppliers — including Cirrus Logic, Qorvo, along with Lumentum — all recently slashed their guidance, which suggests in which Apple’s iPhone shipments (have) peaked,” Leo Sun, a tech along with consumer goods specialist at The Motley Fool, told CNBC in an email.

The Apple suppliers’ declines came amid a wider rout in Asian technology companies on Thursday in which followed the arrest of Huawei’s CFO in Canada.

Beyond the cutting of suppliers’ guidance, Sun said many questions surrounding the U.S.-China trade dispute “remain unresolved, with both sides offering conflicting versions of the agreement” in which was made last weekend between the countries’ leaders at the G-20 summit in Argentina.

Beyond in which, he said: “The flattening (along with potentially inverting) yield curve within the US bond market also strongly indicates in which the economy will be slowing down — which will throttle demand for chips across multiple industries.”

Apple’s stock was not trading on Wednesday as the U.S. stock markets were closed in honor of former president George H.W. Bush. The Cupertino-based tech giant saw its shares fall about 4.40 percent on Tuesday after HSBC downgraded the company to hold via buy along with cut its 12-month cost target to $0 via $205.

“Apple’s iconic hardware unit growth will be broadly over for at This specific point,” HSBC analysts said within the note.

“Revenues are only supported by higher selling prices along with by the development of services. Flat unit growth has hit Apple’s share cost along with incidentally its key suppliers. What has made the success of Apple, a concentrated portfolio of highly desirable (along with pricy) products will be at This specific point facing the reality of market saturation,” they said.

— Reuters along with CNBC’s John Melloy contributed to This specific report.

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