Apple falls on report of iPhone production cuts
09/10/2026 12:07
BUZZ-Apple falls on report of iPhone production cuts ** Apple AAPL.O shares decline 1.8% to $334.21 in pre-market trading after Nikkei Asia reported the co told suppliers to cut production for its new iPhone 18 Pro models due to soft demand
** Report said component orders for Oct were slashed by at least 15% compared with original requests amid soaring memory chip costs and price increases
** Apple did not immediately respond to a Reuters request for comment
** Shares currently trading about 1% below their all-time intraday high of $345.34 reached on Sep 22
** Average rating of 43 analysts covering the stock is "buy"; their median price target is $330, according to LSEG-compiled data
(Reporting by Rashika Singh)
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