- 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.
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Apple tanks after reportedly cutting production of its 3 newest iPhone models amid waning demand (AAPL)
Apple dropped 4% on Monday after a report said the company recently cut production orders for all three iPhone models launched in September.
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Apple is sliding, down 4% on Monday, after a report said the company recently cut production orders for all three iPhone models launched in September.
With Apple tumbling, and other tech giants taking a beat, the tech-heavyNasdaq 100
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- Apple slides into a bear market — now down 20% from its all-time high
- Apple's waning iPhone demand means the big jump in prices won't be enough, analyst says
- Millennials are loading up on Apple despite waning iPhone demand
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