Tech stocks in Asia mixed amid continued FAANG weakness [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Tech stocks in Asia mixed amid continued FAANG weakness Technology stocks in Asia were mixed on Wednesday after their U.S. counterparts slumped stateside. Shares of Apple suppliers were also mixed, a day after the Cupertino-based tech giant saw its stock drop on the back of worries over the sales of its flagship product, the iPhone. In Taiwan, chipmaker Taiwan Semiconductor Manufacturing Company , also known as TSMC, was higher by 0.23 percent while major contract manufacturer Hon Hai Precision Industry , better known as Foxconn, declined by 1.4 percent. The losses were also seen in Japan, where shares of motor maker Nidec declined by 0.65. Component supplier Murata Manufacturing , however, recovered from its earlier losses to trade 1 percent higher. The moves in Asia came after Goldman Sachs slashed its price target on Apple on Tuesday , noting that "in addition to weakness in demand for Apple's products in China ... it also looks like the balance of price and features in the iPhone
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