Apple Inc.. is giving reverse with its plans to increase the production of their new iPhones this year, after an anticipated surge in demand failed to materialize. The Cupertino, California-based electronics maker told suppliers to halt efforts to ramp up assembly of the family of products. iPhone 14: forecasts had been increased by 6 million units for the second half of this year

    Apple to aim to produce 90 million phones for the period, about the same level as the previous year, and in line with the original forecast for this summer. until now demand for iPhone 14 Pro models The higher-priced one is stronger than that of the entry-level versions, according to company sources.

    And Apple is shifting production from lower-priced iPhones to premium models, they added. A sign that the segments with greater purchasing power maintain their purchasing power, but those with lower incomes are beginning to fall short compared to inflation, a phenomenon that is already hitting the United States and Europe hard, where the increase in prices is around 9 percent so far this year and the recession increases.

    As a result of shrinking demand, Apple shares fell 3.9% on Wall Street to $145.90. Shares are down 18% this year, compared with a 23% drop in the S&P 500 index. Analysts at Morgan Stanley and Oddo said the news did not spell any downside to their volume forecasts.

    Bloomberg Intelligence analyst Anurag Rana said he was “not surprised” by the report and continues to “believe that weak demand from Europe and China could affect overall iPhone sales in fiscal 2023“.

    In Taipei, chipmaker Taiwan Semiconductor Manufacturing Co. fell 2.2% and Apple’s largest iPhone assembler, Hon Hai Precision Industry Co., fell 2.9%amid a sell-off of electronics suppliers.

    by RN

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