Gradient Capital Advisors LLC Has $4.60 Million Position in Apple Inc. (AAPL)

Gradient Capital Advisors LLC Has $4.60 Million Position in Apple Inc. (AAPL)

Gradient Capital Advisors LLC Has $4.60 Million Position in Apple Inc. (AAPL)

Particularly hard hit is the iPhone XR, which has seen order cut-backs twice since its introduction in September, according to the Journal.

Production requirements got thrown off by low demand among consumers and by Apple's decision to offer three three new models (it released two each year until 2017), the report said. The device that seems to be worst off is the iPhone XR, the cheapest 2018 model, whose production has been cut down twice since it was first introduced in September.

Apple's largest assembler of iPhones in China, thousands of workers have voluntarily left earlier than they meant to after Foxconn cut overtime hours that are typically available during peak production periods, people familiar with the matter said. The report comes after Apple suppliers across the world slashed forecast over lower than expected demand thanks to lowered demand from the Cupertino-technology giant. With the iPhone XS Max which can go as high as RM7,049, we should see higher revenue per unit for Apple.

Apple numbers have been slowing for a while but the fruity cargo cult managed to hide the shrinking numbers by jacking up the price and leaning on suppliers for component price cuts. Apple had initially planned to manufacture almost 70 million iPhone XR units between September and February.

Apple cuts production orders for all three new iPhone models

Shares have been under pressure recently - down more than 20% from its October peak - amid Apple's waning iPhone demand. Finally, Citigroup dropped their price target on shares of Apple from $265.00 to $240.00 and set a buy rating for the company in a research note on Friday, November 2nd.

So, what could be behind Apple's difficulty in dialing in demand? Apple said it preferred to focus on its transition to a services company, with regular recurring revenue.

The Wall Street Journal report is certainly not surprising, as Apple had announced earlier this month that it will no longer provide unit sales figures for its iPhones, iPads, and Macs starting from the next quarter.

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