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Apple Under Pressure Following Report Of iPhone 8 Production, Demand Woes

Apple Under Pressure Following Report Of iPhone 8 Production, Demand Woes
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Shares of Apple Inc. (NASDAQ: AAPL) were trading lower by around 1.50 percent early Thursday morning in reaction to a concerning report from Taiwan's Economic Daily News relating to iPhone 8 production.

Apple may have requested a 50 percent cut in orders for the iPhone 8 possibly due to poor demand for the new phone, 9to5Mac commented on the ECD report. However, this may not necessarily be troubling news for Apple investors as it is possible consumers are waiting for the more expensive higher end iPhone X model which has yet to be released.

This is a view held by some among Wall Street, Reuters also reported. Rosenblatt Securities' Jun Zhang said in a research report that Apple could be shifting capacity away from the iPhone 8 toward the iPhone X as the higher-end model is expected to sell out.

In fact, Apple's initial production plans called for a 50/50 split between the iPhone 8/8 Plus and the iPhone X but now the higher end-model could see 60 to 70 percent of the production mix in December and rise even more into 2018.

Nevertheless, if reports are accurate, this would mark the first time Apple ordered a production cut for its phone. Apple's stock is reacting to the downside.

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