Apple Stock Dips After Reports Of Halt In iPhone 14 Plus Production

October 20, 2022 By Monica Green

(Image Credit Google)

Tuesday saw a sharp decline in Apple shares following a report that the company had requested a supplier to halt production of a part for the iPhone 14 Plus while it reevaluated demand. Less than two weeks after its release, one of Apple's Chinese suppliers has been told to immediately stop producing a component for the phone, according to The Information. According to the study, two additional suppliers who assemble modules using that component have likewise sharply reduced production. The iPhone 14 Plus, which has a starting price of $899, is a less expensive variant than the iPhone 14 Pro Max, which has a starting price of $1,099. According to the latest survey, people are choosing the more expensive of the two iPhones with large screens. According to a previous Bloomberg story, the company reportedly instructed suppliers to abandon plans to boost iPhone 14 production in September. (The less expensive option to the iPhone 14 Pro is the iPhone 14). Apple Stock Dips After Reports Of Halt In iPhone 14 Plus Production

Apple Stock Dips After Reports Of Halt In iPhone 14 Plus Production

According to Bloomberg, the new models' demand did not increase as quickly as was expected. Stocks had been trading around $145, and after the report, they dropped by about $4 per share. The stock recovered a little on Tuesday, but on Wednesday, it closed the day at $143.86. With a $2.31 trillion market cap and a 52-week price range of $129.04 to $18.94, Apple's stock is currently trading 21.6% below its 52-week high. On October 26, 2022, Apple's quarterly report is anticipated to be released.

By Monica Green

I am specialised in latest tech and tech discoveries.

Apple Stock Dips After Reports Of Halt In iPhone 14 Plus Production

Walmart's GenAI Search Engine: Challenging Google's Dominance in Retail Search

Introducing the MSI Claw Handheld: Your Ultimate Gaming Companion

Uber Increases In-App Ads, Prompting Mixed Reactions from Customers

Apple's iOS 18: A Leap into the AI Era

Google's Regular Pixel 8 Won't Get Gemini Nano AI

MacBook Air M3 Makes Amends for M2's Storage Blunder

Samsung Unveils the Galaxy M15 5G

Elon Musk's xAI to Open-Source Chatbot Grok

Contra: Operation Galuga - A Modern Run-and-Gun Classic

Musk Confirms X's TV App Arrives This Week

Apple Announces that Switching to Android Gets Easier

Lenovo Collaborates with Fashion Designers on 'Tab Wear Collection’

Samsung Enhancing User Experience in Home Appliances with Generative AI Integration

How to Switch Your Metro by T-Mobile Plan

Tech Company Figure Secures $70 Million Investment to Speed Up Humanoid Robot Development

Apple Store will add "Ted Lasso" merchandise online in June