CUT APPLES: Local media has reported that Apple Inc cut orders for its iPhone X because of weak demand, which has prompted investors to dump liquid shares
Taipei Times
Date: Dec 27, 2017
By: Staff writer, with CNA
Shares in Largan Precision Co (大立光), a supplier of smartphone camera lenses to Apple Inc, yesterday slipped below NT$4,000 for the first time in about one year on concerns over shipments of the iPhone X, dealers said.
The stock hit a low of NT$3,945 in the first 10 minutes of trading — its lowest point in intraday trading since Jan. 10 with a low of NT$3,990 — but recovered to end unchanged at NT$4,000, outperforming the TAIEX, which closed 0.96 percent lower at 10,421.91.
Largan stock has been up and down this year. The stock ended last year at NT$3,790, then soared to an intraday high of NT$6,075 on Aug. 25, before plummeting nearly 35 percent since then and giving away most of its gains for the year.
Whether Largan shares can stage a meaningful rebound depends on whether foreign institutional investors buy Largan shares they previously sold short after they return to the trading floor following the Christmas and New Year holidays, dealers said. [FULL STORY]