Apple Supplier Stocks Slump After Berkshire Nearly Halves Stake
- Japan’s Murata drops 14%; Hon Hai, TSMC slide 10% each
- Buffett’s stake sale is a market negative, Jonestrading says
An Apple iPhone.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The shares of Apple Inc.’s suppliers slumped after Berkshire Hathaway Inc. nearly halved its stake in the iPhone maker. The decline came amid a broad market selloff Monday.
Taipei-listed iPhone assembler Hon Hai Precision Industry Co. and chipmaker Taiwan Semiconductor Manufacturing Co. slid about 10% each. Among component makers Murata Manufacturing Co. tumbled 15% in Tokyo, while LG Innotek Co. tanked as much as 13% in Seoul and Luxshare Precision Industry Co. fell 7.7% in Shenzhen.