KUALA LUMPUR (Jan 3): Bursa Malaysia’s technology counters plunged in early trade this morning after Apple Inc slashed its 2018 revenue forecast.

Inari Amerton Bhd was one of the most active counters on the exchange, falling some 13 sen or 8.8% to RM1.34 while Globetronics Techonology Bhd declined 13 sen or 7.6% to RM1.59.

Both companies are heavily involved in producing smartphone parts and have counted Apple as a key customer.

Inari’s warrants were also among the largest decliners on Bursa Malaysia as at 9.24am.

This morning, Apple lowered its revenue guidance to US$84 billion from US$93 billion for the quarter ended Dec 29.

It is the first time Apple has cut predictions almost two decades, Bloomberg reported.

The smartphone maker cited weaker demand from China, fewer upgrades of iPhone models and supply constraints in the production of its newer products.