No the Sky isn't falling, it's just a Normal Seasonal iPhone Adjustment Period after a Busy Holiday Quarter
A new supply chain report published this morning claims that component suppliers in the iPhone supply chain are likely to be forced to prolong their Lunar New Year holidays in the first quarter of 2018 due to low order visibility for iPhone X, iPhone 8 and iPhone 8 Plus. These kinds of reports repeat annually like a broken record, so no, the sky isn't falling for Apple iPhones.
The report then calms down a bit acknowledging that 'seasonal factors' will see component orders for iPhone devices come in 15-30% lower than than the holiday quarter.
Yet the report went on to note that "some sources argued that the slower-than-expected sales of iPhone 8 and iPhone 8 Plus have dragged down the momentum for the iPhone X."
All of the exaggerated claims found in the report should be dispelled during Apple's financial conference call scheduled for February 1st.
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