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1.Market Observations, 8.Was Sticky

15 Nov 2018 (AFR) – The three-minute chat that wiped billions off (US) stocks

(15 November 2018, AFR, p27, by Tim Culpan)

‘A three-minute conversation on stage at UBS AG’s Global Technology Conference in San Francisco helped wipe more than $US190 billion ($263 million) from global stocks. Lumentum Holdings makes lasers for 3D facial recognition used by major smartphone makers, with Apple its key client. On Monday, the company announced a 17 per cent cut in its December-quarter revenue outlook. That triggered a plunge in shares of Apple and its suppliers, and reverberated through stock markets in the US and Asia.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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