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Apple takes shine off stocks rally, suppliers hit

Wednesday, September 13, 2017 - 01:43

Disappointment over the timing of Apple's iPhone X release hampered further gains for world stock markets. As Laura Frykberg reports, many of Apple's suppliers suffered a hit

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A bruise for shares in companies that'll make up the pieces of Apple's latest iPhone X... The UK-based firm, Dialog Semiconductor slipping 1.7 percent. the French-Italian - ST Microelectronics dipping by 1.1. While shares at the core company itself.. also took a hit. (SOUNDBITE) (English) DARREN SINDEN, INDEPENDENT MARKET ANALYST, SAYING: "I think what disappointed investors the most was the fact that it won't actually be launched until November 3rd a full month after the end of Apple's fiscal year. And therefore you know it's something of jam tomorrow in terms of the suppliers." Apple says the iPhone X is the 'biggest leap forward' Since the original model was launched about 10 years ago. The company is looking to recover its image, after many consumers rejected last year's iPhone 7 as being too similar to the iPhone 6. (SOUNDBITE) (English) DARREN SINDEN, INDEPENDENT MARKET ANALYST, SAYING: "You can fly too close to the sun occasionally and it's very hard to stay at a topdog when you're in a business where product innovation and fashion is everything." Apple no doubt hoping that proves wrong - with the iPhone X's most distinct new feature... being able to unlock it with facial recognition.. Although that proved a little problematic at its launch (SOUNDBITE) (English) APPLE SENIOR VICE PRESIDENT CRAIG FEDERIGHI, DEMONSTRATING THE NEW IPHONE X, SAYING: "Unlocking it is as easy as looking at it and swiping up. And, you know, let's try that again. Oh ho ho. Let's go to backup here. And get right in. So here we are, and you see this expansive display. It's just a beautiful canvas for all of your content and your gestures." Customers no doubt hoping that doesn't happen... When they buy the technology, which isn't cheap.. Each costs about $999.