Europe: Chipmaker stocks fall after Apple forecasts lower revenues
[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
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Stocks rise on earnings optimism as US data approaches
Singapore stocks climb at Wednesday’s open; STI up 0.4%
Stocks to watch: MPACT, CapitaLand Ascott Trust, Hotel Properties, OUE Reit, CLCT
Europe: Tech, retail stocks boost Stoxx 600 to one-week high
US: Stocks climb for second straight day
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in