Apple-suppliers in the US eyed after Barclays downgrade reaction in Asia
Keep an eye on US Apple-suppliers. Shares of Taiwan Semiconductor Manufacturing, a major Apple supplier, fell after Barclays downgraded Apple. IGTV financial analyst @AngelineOng lists US stocks on her watch list.
(Video Transcript)
Keep your eyes on US Apple suppliers
US suppliers to Apple could be active. Keep an eye out for the likes of QUALCOMM and Broadcom just to name a few. This is after shares of Taiwanese chipmaker TSMC fell after Barclays downgraded Apple.
Let's have a look at Apple shares first because we've got this on all-sessions, which means that you can trade it on the IG platform before the cash session opens, currently down one-third of a percent, adding to those losses in the previous session down 3.7%.
Weak demand for Apple devices predicted
This is around a seven-week low for Apple. This is after Barclays downgraded the shares of the world's most valuable company due to concerns that demand for its devices, from the iPhone all the way to the Mac, will stay weak in 2024.
Remember, a lot of the western hemisphere is still grappling with high inflation and also their cost-of-living crisis.
QUALCOMM, just showing you this stock ahead of the Open. QUALCOMM is an all-session stock as well. It supplies 5G chips to Apple and it is currently down 0.75%, all-sessions on the IG platform. QUALCOMM is going to continue supplying these 5G chips to Apple until 2026.
Broadcom, also showing you that, not all-sessions but showing you ahead of the cash session. Broadcom, of course, supplies the made-in-America chips to the iPhone maker.
And, last but not least, Micron Technology which is all-sessions. Micron makes the image sensor for the iPhone's camera.
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