Apple stock plummets following iPhone 18 order cut
Photo: Finbold
Apple (NASDAQ: AAPL ) stock fell nearly 2% in pre-market trading on Friday, October 9, following a report that the company reduced production of components for its newly launched iPhone 18 models. Namely, rising memory chip costs and higher retail prices appear to have weighed on consumer demand, which has led to Apple adopting a more cautious approach to shipments last month, as reported by Nikkei Asia . As a result, the company cut October component orders by at least 15% compared with its original requests. However, as of press time, Apple is yet to make an official statement.
Source: Finbold
