More earnings reports from companies linked to Apple have resulted in further evidence that the technology giant could be winding down or stopping production of the iPhone X.
Nasdaq-listed Cognex is the latest company to provide clues that Apple may be going down this path.
It reported first quarter earnings on Monday that were up 22 percent year-on-year, a slowdown from the 40 percent growth seen in the first quarter of 2017. On top of that, guidance for second quarter revenue of between $200 million and $210 million was below Wall Street expectations, according to Neil Campling, co-head of the global thematic group at Mirabaud Securities.
Cognex sells technology that assists factories that assemble the iPhone. Apple's supply chain relies on this technology to get the OLED screen on the iPhone X fitted perfectly.
Campling told CNBC on Tuesday that Apple accounts for about 20 percent of Cognex revenues, so the slowdown can be attributed to Apple killing off the iPhone X.