Apple Tumbles After Report Says 5G iPhone Could Be Delayed To 2021

A new report from Nikkei Asian Review states that Apple could delay the launch of its 5G iPhone over supply chain disruptions in China and new fears of demand issues as the global economy crashes.

Sources told Nikkei that Apple has "held internal discussions on the possibility of delaying the launch by months, three people familiar with the matter said, while supply chain sources say practical hurdles could push back the release, originally scheduled for September."

"Supply chain constraint aside, Apple is concerned that the current situation would significantly lower consumer appetite to upgrade their phones, which could lead to a tame reception of the first 5G iPhone," said the source. "They need the first 5G iPhone to be a hit."

None of this should be surprising considering our March 6 report that specified, "the iPhone 5G launch in the fall could see a month of delay." 

Another source told Nikkei that a final decision on the 5G iPhone delay could arrive in May. 

"The discussion is still at an early stage, and the fall launch is not completely off the table," the source said. "But the 5G iPhone could be postponed to 2021 in the worst-case scenario."

Just like the Olympics, it seems that Apple could delay its latest and greatest 5G iPhone to 2021. 

So was the Nikkei report of possible 5G iPhone delays the reason why Apple shares tumbled in late session?