Apple warned earlier this month that holiday sales would miss Wall Street expectations, blaming the fall on weakness in emerging markets and foreign exchange costs.
"Many suppliers have lowered numbers due to their unnamed 'largest customer, ' which is Apple", said Elazar Capital analyst Chaim Siegel.
Among other Apple suppliers, South Korea's LG Innotek Co., which gets about half its revenue from Apple, slid as much as 9.5 percent.
The suppliers include Lumentum Holdings which supplies Apple with key hardware for Face ID along with Japan Display and IQE.
Estimates of Apple's "most affordable" 2018 model, the iPhone XR, has been cut by almost 30 million shipments, a famed Apple analyst has written in his research note.
The securities and banking house says that it too expects Apple to cut back on iPhone orders, but also mentions that the company is having issues expanding its profit margins.
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Apple has lost $120 billion in market capitalisation since the last trading day of September, and many analysts are warning that the brief days of Apple being a trillion dollar company are over. In its most-recent quarter, Apple reported nearly no increase in the number of iPhones sold, but revenue from that business jumped 29 percent from a year earlier.
Japan's Nikkei reported earlier this month that Apple had told its smartphone assemblers Foxconn and Pegatron to halt plans for additional production lines dedicated to the iPhone XR, the cheapest of this year's new launches.
'Although Apple has positioned itself as a super-expensive handset maker providing high-end products, its strategy has not been working in emerging markets including China and India as Chinese vendors have been making iPhone-like products'.
That could extend iPhone replacement cycles by six months to 3.2 years and push unit sales down by 6 percent a year for three years, he estimated. Not necessarily. To this point, Kuo articulates that lower demand for the iPhone XR may be offset - in a financial sense - by sales of Apple's pricier iPhone XS models.
Apple's iPhone XR, which boasts the iPhone X's edge-to-edge display, albeit using older LCD pixels instead of the X's high-resolution OLED screen, was widely expected to fuel a massive wave of upgrades from users of the iPhone 6S or earlier models.