Apple has told suppliers that demand for its new iPhone 13 lineup has fallen ahead of the holiday season — and things couldn’t get much better in the new year, according to a report.
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The apparent lack of demand comes as Apple reportedly slashed its 2021 iPhone production target from 90 million to 80 million amid supply chain issues.
The tech giant had hoped to make up for the lost sales in early 2022, but is now concerned that the expected growth of orders may not meet, Bloomberg told Monday late.
Some buyers may hold off on the 2022 slate of new iPhones, which are usually unveiled in September. They are expected to make a big difference compared to this year’s iPhone 13 lineup, which saw relatively minor upgrades to its camera and processor.
Other potential buyers are gearing up amid skyrocketing inflation and concerns about the new Omicron coronavirus variant that has rocked the stock market in recent days.
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Apple shares were down 3.2 percent in pre-market trading on Thursday following a Bloomberg report.
Yet Dan Ives, managing director of Wedbush Securities, took a more optimistic tone, predicting that Apple will have its strongest holiday season ever and that iPhone demand will remain strong in the new year.
“The supply chain has many ups and downs for Apple in the middle of the iPhone cycle and our Asia investigation is strong, not weak,” Ives told the Post of the firm’s eye on sales in Asia. “The haters will continue to hate Apple, but we believe a $3 trillion market cap is in a crystal ball despite the Street’s concern over these negative white finger headlines.”
Apple currently has a market capitalization of $2.7 trillion.
The company did not immediately respond to a request for comment.
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