Backing up a recent Jefferies note, Digitimes reports many top phone vendors (nearly everyone besides Apple) have slashed their orders to Taiwanese suppliers, with the cutbacks expected to continue into Q3. Slowing North American smartphone growth and weak Euro phone demand are seen as the culprits. Some component suppliers saw big losses today - RFMD -6.5%, SWKS -5.4%, TQNT -6.6%, QCOM -3.3% - but then again, so did many other chip stocks (SOXX -4.1%).
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