Apple cut production of new iPhones by 3 million, citing slowing demand

Bloomberg with the report.

Earlier in the session, the AAPL blamed Chinese health authorities:

It was a strangely unspecific statement from the company. It seems that this latest news is more in line with what is causing the AAPL’s woes. The approaching holiday season and Apple’s warning of lower demand do not bode well. Higher interest rates coupled with soaring prices weighing on demand.

No more of that?


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