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Europe: Chipmaker stocks fall after Apple forecasts lower revenues

Wednesday, January 27, 2016 - 16:36
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Europe's main stock markets rebounded at the start of trading on Friday, with London's FTSE 100 index up 1.3 per cent at 6,006.9 points.

[LONDON] Shares in leading European technology and chipmaker stocks fell on Wednesday after Apple forecast its first revenue drop in 13 years.

ARM Holdings, the British chip designer whose technology powers Apple's iPhone, fell 1.5 per cent to underperform a 0.4 per cent drop on the benchmark FTSE 100 index .

Rival German chipmaker Dialog fell 1.5 per cent while AMS also edged down by 0.2 per cent.

Apple predicted its first revenue drop in 13 years and reported the slowest-ever increase in iPhone shipments as the critical Chinese market showed signs of weakening, suggesting the technology company's period of exponential growth may be ending.

REUTERS