Analysts say market is panicking ahead of Apple’s earnings report on Tuesday | 9to5Mac

Apple is due to report its fiscal Q2 2018 (calendar Q1) earnings on Tuesday, and analysts are nervous – both about what the company might report for the quarter, and what it may project for the current one.

Recent falls in the share price were the result of Wall Street entering ‘full panic mode’ according to one firm …

Persistent reports of poor iPhone X sales this quarter have driven concern. This has led to nervousness about the tech sector as a whole when the NYSE FANG+ Index took a hit a month ago. The index tracks ten global tech giants, Apple among them, and experienced its worst-ever one-day drop in March.

Weak guidance by Apple chipmaker TSMC heightened fears, as did a report suggesting that Apple’s plan to use LG as a secondary supplier of OLED screens for this year’s iPhones is now in doubt. This could limit Apple’s options to be as competitive on price as it would like, or else hit margins.

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Analysts say market is panicking ahead of Apple’s earnings report on Tuesday | 9to5Mac.