Analyst says Taiwan media is mistaken; rumored iPhone production cuts are for 8/8 Plus

Yesterday, we passed along some bad news for bulls on China's equity markets; stocks of companies that supply Apple with parts for the iPhone X had lost as much as 40% of their value in a single day. What brought on such a rush of selling? It was a rumor that Apple had cut production of the tenth anniversary model by 20 million to 30 million units. But today, an analyst with securities firm Rosenblatt says that this rumor is incorrect.

Analyst Jun Zhang says that his firm's research reveals no such production cut is taking place with the Apple iPhone X, and that Taiwan's media is a bit confused. ...