Apple and suppliers' stocks fall after report of a cut in iPhone component orders

Apple stock was down 1.7% at 9:42 a.m. Eastern time. Shares of Austrian supplier AMS AG dropped as much as 7.2%, and in the United States, Cirrus Logic Inc. fell 3.5%, Skyworks Solutions Inc. fell 2.6% and Qorvo Inc. fell 1.2% after the Nikkei newspaper said Apple told its supply chain to prepare about 20% fewer components for iPhones debuting in the latter half of this year, compared with 2017’s orders. The newspaper cited people in the industry whom it didn’t identify.