Apple (NASDAQ: AAPL) shares are down after reportedly instructing suppliers to cut iPhone 18 Pro and Pro Max component production by 15-20% for October 🔗. This move signals weaker-than-expected market demand for the new iPhone line, potentially driven by rising component costs leading to price hikes 🔗.
Key points:
- Demand Weakness: Apple's component order cuts suggest soft consumer demand for its latest premium iPhones 🔗.
- Cost Pressures: Soaring memory chip and component prices are cited as factors forcing price hikes and impacting demand 🔗.
- Market Reaction: AAPL shares slid 2.3% in early U.S. trading following the report 🔗.
Apple reportedly cuts iPhone18 Pro component orders amid soft demand, shares fall
INVESTING.COMOct 9, 1:49 PM UTC
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