WS #15592
The technology sector is posting broad gains, with the SMH up 1.6% and QQQ up 0.8%, fueled by strong European earnings growth and analyst upgrades for names like Google and Dell. However, a significant crack in the consumer tech narrative has emerged as Apple reportedly cut iPhone 18 Pro component orders by 15-20%. This order reduction suggests weakening demand for premium smartphones, contradicting the broader 'tech roars back' narrative and posing a headwind for Apple's supply chain partners and the sector's growth outlook.
Tech Rally vs. Apple Demand Weakness
The technology sector is posting broad gains, with the SMH up 1.6% and QQQ up 0.8%, fueled by strong European earnings growth and analyst upgrades for names like Google and Dell. However, a significant crack in the consumer tech narrative has emerged as Apple reportedly cut iPhone 18 Pro component orders by 15-20%. This order reduction suggests weakening demand for premium smartphones, contradicting the broader 'tech roars back' narrative and posing a headwind for Apple's supply chain partners and the sector's growth outlook.