Answer To Apple's Open Book Test -- June 8, 2018

Yesterday, I posted this: 

AAPL: This looks like an answer to a question in an open book test. An Apple (AAPL) analyst suggests that AAPL shares at $193 are "flying high" after rising quickly from $173. If I find the link again, I might post it. Probably not. The analyst says that if iPhone sales slow, it's very possible AAPL shares could tumble back to $173.

So, could iPhone sales slow? Sure. I assume everyone saw this article yesterday: Apple is not encouraging folks to upgrade to new iPhones. Apple encourages folks to keep their "old" phones.

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Today, this story from Bloomberg via Yahoo!Finance: Apple shares drop after report of cut in iPhone orders.

Apple Inc. shares and Europe-based suppliers declined after a report that the technology giant has warned its supply chain of a drop of around 20 percent in new iPhone component orders.

Apple fell 2.1 percent in U.S. pre-market trading, after its Frankfurt-listed shares also lost as much as 2.1 percent. Supplier AMS AG dropped as much as 6.7 percent. Other European semiconductor stocks including Dialog Semiconductor Plc, STMicroelectronics NV and Infineon Technologies AG all slipped after the Nikkei said that Apple told its supply chain to prepare about 20 percent fewer components for iPhones debuting in the latter half of this year, compared with 2017’s orders, citing people in the industry it didn’t identify.