The Apple iPhone X is "dead" says brokerage firm analyst

Yesterday, we told you that Apple chip supplier TSMC lowered its revenue forecast for the year, citing softer than expected sales of high-end smartphones. With that in mind, Mirabaud Securities analyst Neil Campling says that there is an oversupply of chips at TSMC which "has never been higher." And he should know; Mirabaud has tracked TSMC's inventory for over a decade.

With TSMC swimming in chips, and talk from suppliers about slowing shipments to Apple, Campling told clients in a note that "the iPhone X is dead." He comes to that conclusion from the record inventory at TSMC, which ...