Japanese news service Nikkei reported Monday that Apple has asked its Chinese suppliers including Foxconn to halt plans for additional production lines of the newly released iPhone XR, whose price starts at $749 instead of $999 and up for the other new iPhones.
The Nikkei's report comes days after Cupertino, California-based Apple warned that sales for the crucial holiday quarter would likely miss Wall Street expectations. That's down 20% to 25% compared to Apple's most optimistic prognosis.
Apple's Asian suppliers tanked on Tuesday, one day after a report about the iPhone XR sent Apple's stock down further after its market cap last week tumbled below $1 trillion.
"The utilization for the XR production is not reaching its maximum capacity now", the source said.
"History has shown all kinds of statements made about Apple supply chain and the endless predictions of slowing of iPhone and other Apple product sales have been wrong", said Feinseth, who rates Apple's stock a "strong buy".
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"We caution investors not to lose sight of the massive metamorphosis on the horizon at Apple being led by the services business", Ives wrote in a research report published Monday. This is not the first time, five years ago, when Apple launched the iPhone 5C with plastic back, it had cut production orders a month after its launch, which fuelled speculation of weak demand for the model. In any case, we now know that the company will stop giving iPhone sale reports, but the reasons are not clear.
This information may help explain why Apple provided a dim forecast for iPhone sales in the current quarter. The iPhone XR hit shelves in October, undercutting the iPhone XS by $250 despite offering much the same style and abilities.
The Californian giant has reportedly upped its unit request for older iPhone models by 5 million.