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Apple tanks after reportedly cutting production of its 3 newest iPhone models amid waning demand (AAPL)





Tim Cook Jony Ive iPhone XR

  • 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.

Apple is sliding, down 4% on Monday, after a report said the company recently cut productions orders for all three read more >>>

Source:: BusinessInsider.Com

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