Global recessive effect: Apple stops the production of the Iphone 14

apple inc. is giving reverse with his plans to increase the production of their new iPhones this year, after an anticipated surge in demand failed to materialize. The Cupertino, California-based electronics maker has told vendors to halt efforts to increase assembly of the product family. iPhone 14: forecasts have been increased by 6 million units for the second half of this year

Apple will aim to produce 90 million phones for the period, about the same level as the previous year, and in line with the original forecast for this summer. until now the demand for iPhone 14 Pro models The higher-priced one is stronger than that of the entry-level versions, according to company sources.

and Apple is shifting production from lower-priced iPhones to premium modelsthey added. A sign that the segments with greater purchasing power maintain their purchasing power, but those with lower incomes are beginning to fall short of inflation, a phenomenon that is already hitting the United States and Europe hard, where price increases are around 9 percent so far this year and the recession deepens.

Consistent with the retraction in demand, Apple shares fell 3.9% on Wall Street to $145.90. Shares are down 18% this year, compared with a 23% drop in the S&P 500 index. Analysts at Morgan Stanley and Oddo said the news did not imply any downside to their volume forecasts.

Bloomberg Intelligence analyst Anurag Rana said he was “not surprised” by the report and continues to “believe that weak demand from Europe and China could affect overall iPhone sales in fiscal 2023“.

In Taipei, chipmaker Taiwan Semiconductor Manufacturing Co. fell 2.2% and Apple’s largest iPhone assembler, Hon Hai Precision Industry Co., fell 2.9%amid a sell-off from electronics providers.

by RN