Apple cuts production orders for all new iPhones

Apple cuts production orders for all new iPhones

Apple cuts production orders for all new iPhones

The Wall Street Journal reports that Apple's decision to release three devices is an influencing factor, making it harder for the company to predict sales accurately and to order the necessary parts to put together the smartphones. The XR has reportedly taken the biggest hit: Apple reduced production orders for the XR twice over the past two months. Apple's stock has fallen more than 5% recently after it told investors it would no longer report iPhone unit sales and issued a lower-than-expected sales forecast for the Christmas quarter.

According to sources, the problem arose because of the difficulties with forecasting demand for new models.

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This is the second time in as many years that Apple has cut production orders for one of its newest iPhones.

Shares have been under pressure recently - down more than 20% from its October peak - amid Apple's waning iPhone demand.

The company used the increasing average iPhone sale price to justify a significant reporting.

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It was only a few weeks ago when we heard that Apple had slashed production of the iPhone XR as demand failed to meet expectations.

People handle the new Apple iPhone XS and iPhone XS Max during a media tour at an Apple office in Shanghai, China, September 21, 2018. Schwab Charles Investment Management Inc. now owns 19,817,792 shares of the iPhone maker's stock worth $3,668,472,000 after purchasing an additional 207,520 shares during the period.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business's stock in a transaction on Monday, August 27th.

In the bearish note, Rod Hall and his analyst team say that it seems like Apple "miscalculated on the price/feature balance for the [iPhone] XR" and that Apple's less-expensive premium phone may have missed the mark.

Apple stock has fallen more than 15% this month as investors grow increasingly anxious about iPhone sales.

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