Apple shares fell 2.6 percent in premarket trading after one of its facial recognition suppliers cut its outlook, citing a reduced shipment request from one of its largest customers.
Lumentum, a manufacturer that makes lasers capable of sensing in 3D, announced the reduced outlook in a press release Monday. The company creates components for the front-facing camera of Apple's newer iPhones that enable FaceID and augmented reality. The report builds speculation around the success of Apple's latest iPhones as the holiday season approaches. Last week, Nikkei reported that iPhone production was slowing down.
In a statement, Lumentum President and CEO Alan Lowe said, "We recently received a request from one of our largest Industrial and Consumer customers for laser diodes for 3D sensing to materially reduce shipments to them during our fiscal second quarter for previously placed orders that were originally scheduled for delivery during the quarter."
In Lumentum's annual filing for its fiscal year 2018 it listed Apple as its largest customer, accounting for 30 percent of revenue. However, Lumentum did not mention Apple by name in its report Monday.
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