Customers check out new iPhones at an Apple retailer as iPhone 14 sequence go on sale on September 16, 2022 in Shanghai, China.
VCG | Visual China Group | Getty Images
Shares of Apple fell about 2.6% in premarket buying and selling on a report that the corporate has advised suppliers to bail on plans to extend iPhone 14 manufacturing. Demand for the brand new fashions didn’t spike as excessive as anticipated, in response to Bloomberg.
Apple will now not purpose to extend manufacturing by 6 million items within the second half of the yr because it had deliberate, in response to the report. The firm will attempt to provide 90 million items as a substitute, which is roughly in step with Apple’s forecast and manufacturing from final yr, in response to Bloomberg.
The report additionally impacted Apple provides and producers. Shares of key chipmaker Taiwan Semiconductor Manufacturing additionally fell about 2.3% earlier than the market open. Shares of Hon Hai, also called Foxconn, had been down about 2.9%. Foxconn builds Apple’s iPhones.
Demand for the iPhone 14 Pro is larger than for the opposite new telephones, Bloomberg reported, main at the least one Apple provider to shift manufacturing capability from the lower-tier fashions to the premium model.
An Apple consultant declined to remark.
Subscribe to CNBC on YouTube.
WATCH: Apple launches iPhone 14 as prospects line as much as meet Tim Cook and get new tech
Source: www.cnbc.com”