Apple tanks after reportedly cutting production of its 3 newest iPhone models amid waning demand (AAPL)
|11/19/2018||Posted by BusinessMediaguide.Com under General World News||
- Apple has cut productions orders for all three iPhone models launched in September, according to the Wall Street Journal.
- A handful of iPhone suppliers last week cut their outlook, citing a drop in demand from one of their biggest customers.
- Earlier this month, the smartphone giant reported underwhelming iPhone sales and said its holiday quarter would be on the low end of expectations.
- Shares have been under pressure recently, down more than 20% from its October peak.
- Watch Apple trade live.