IPHONE X

Shares in several of Apple’s Asian suppliers fell for a second straight day on Tuesday, hurt by a report from Taiwan’s Economic Daily and some analysts saying that iPhone X demand could come in below expectations in the first quarter.

Apple will slash its sales forecast for the iPhone X in the quarter to 30 million units, the Taiwanese newspaper said on Monday, citing unidentified sources — down from what it said was an initial plan of 50 million units.

Apple has not publicly disclosed quarterly sales targets for the iPhone X, which went on sale in November.

Shares of Apple opened down nearly 3 percent on Tuesday, on track for its worst day since Aug. 10. As of 1 p.m. ET, Apple’s market capitalization had fallen by nearly $23 billion to $875.8 billion, from Friday’s closing value of $898.6 billion, according to FactSet.

Some analysts have also flagged disappointing demand. U.S.-based JL Warren Capital is predicting shipments of just 25 million units as consumers balk at the “high price point and a lack of interesting innovations.”

“Our work continues to suggest the March and June quarters will have a significant amount of iPhone X make-up shipments,” Chicago-based Loop Capital said in a note last week, forecasting shipments of 40 million to 45 million units in the first quarter of 2018, up from an estimated 30 million to 35 million units in the current quarter.