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

pulse

November 19, 2018 9:15 PM

Apple dropped 4% on Monday after a report said the company recently cut productions orders for all three iPhone models launched in September.

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.

Apple is sliding, down 4% on Monday, after a report said the company recently cut productions orders for all three iPhone models launched in September.

reported underwhelming iPhone sales

With Apple tumbling, and other tech giants taking a beat, the tech-heavyNasdaq 100

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