NEW YORK, NY / ACCESSWIRE / March 20, 2018 / Apple shares closed in the red on Monday after it was revealed that the iPhone maker could be designing and producing its own device displays. This news did not bode well for display makers who saw their shares crumble. Micro Focus International was one of the biggest losers in yesterday trading after the company announced its CEO has stepped down and that YOY revenues would decline more than previously forecasted.

RDI Initiates Coverage on:

Apple Inc.
https://rdinvesting.com/news/?ticker=AAPL

Micro Focus International plc
https://rdinvesting.com/news/?ticker=MFGP

Apple Inc. shares closed down 1.53% yesterday only nearly 33.5 million shares traded. According to sources familiar with the matter, the tech giant is reportedly designing and producing its own device displays for the very first time. According to the unidentified sources, Apple is using a secret manufacturing facility near its headquarters in California to make a small number of screens to test. Display companies saw their shares collapse on the report. Universal Display Corp. saw losses as high as 16%. Synaptics, which makes screen driver components, also saw a drop of over 4%. DIGITIMES has recently reported that Apple is also on its way to purchasing between 250 and 270 million screens for the production of its iPhones through the year. The company is also reportedly planning to purchase between 60 and 70 million 6.1" liquid crystal displays for its upcoming iPhone that will have a cheaper cost. In another news, a report by Forbes has revealed that orders of iPhone X for Q1 2018 are being rowed back and analyst projections for Q2 and Q3 are being downgraded.

Access RDI's Apple Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AAPL

Micro Focus International plc was one of the biggest losers in Monday trading on the NYSE with shares closing down 46.55%. Shares saw the biggest drop the stock has seen in 13 years after the company issued a warning about its YOY revenue decline and that its CEO, Chris Hsu, has exited from the company. The Company posted its interim results in early January and revenue has dropped more than expected. The company said yesterday that it now expects revenues over the twelve months ended October 31st to drop in the range of 6 to 9%. Previously the company had projected a drop of 2 to 4%. Chairman of the company, Kevin Loosemore, remarked, "Clearly we have let people down with this execution and we have to rebuild that trust." The company's former CEO stepped down on Sunday and in his place, chief operating officer Stephen Murdoch, is now the new CEO.

Access RDI's Micro Focus International plc Research Report at:
https://rdinvesting.com/news/?ticker=MFGP

Our Actionable Research on Apple Inc. (NASDAQ: AAPL) and Micro Focus International plc (NYSE: MFGP) can be downloaded free of charge at Research Driven Investing.

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