The Dow Jones Industrial Average rose 150 points Thursday, as the stock market sell-off worsened Wednesday. Apple slid on weak iPhone demand. Read More...
Reuters
Apple tells suppliers demand for iPhone 13 lineup has weakened – Bloomberg News
The company had cut production of iPhone 13 by as many as 10 million units, down from a target of 90 million, due to a global chip shortage, but now it has informed vendors that even those orders may not materialize, the report said. Apple’s shares fell about 2% in premarket trading, while shares of iPhone component and semiconductor suppliers Qualcomm, Skyworks, Europe’s ASML and Infineon were also down. The holiday season is Apple’s biggest quarter in terms of revenue and a test for consumers’ interest in the company’s latest iPhones and MacBooks.
