Apple reportedly slashes production orders for iPhone XR and XS

Apple unveiled its new line-up consisting of iPhone XS XS Max and XR in September

The company slashed production of all three of its new iPhone models - the XR, XS, and XS Max - according to a report from the Wall Street Journal.

According to sources speaking with The Wall Street Journal (via Reuters), Apple has seen lower than expected demand for its three new iPhones. Reports on the internet are attributing the reduction in production to the "lower-than-expected" demand of the latest devices. Maxim Group lifted their target price on Apple to $221.00 and gave the stock an "average" rating in a report on Thursday, September 13th.

Apple Inc. shares fell as much as 5.6 percent in early trading on Tuesday, with the stock falling into bear-market territory after Goldman Sachs cut its price target for the third time this month, citing signs of weak iPhone demand in China and other emerging markets.

With all of that said, Apple stock still remains high, so investors are still on board.

As the holidays approach, Apple's suppliers are not happy.

"Apple's success with iPhone X demand this summer and then a relatively healthy start to the XS cycle this fall suggested to us that pricing power was still intact". We'll definitely know how well the iPhone XS, XS Max and iPhone XR perform in the next fiscal 2019 Q1 report.

Goldman Sachs now sees Apple's earnings per year for fiscal 2019 at United States dollars 13.40, approximately in-line with Apple's last three years next-twelve month average. The last quarter of the year is often the best performing quarter for Apple with more than 70 million units sold.

Shares of Apple suppliers were also hit, with Lumentum Holdings Inc, Universal Display Corp, Cirrus Logic Inc and Skyworks Solutions Inc down between 1.5 per cent and 4.8 per cent.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business's stock in a transaction on Monday, August 27th.

The end of reporting on unit sales comes just as Apple is generating little growth in units in its iPhone business.

Related news:

Hot News

isis-killer-beheading-video-story-top Kemba Walker Does Michael Jordan Shrug After Wild 3-Pointer
Nov 20, 2018 - 23:17
Slovenian rookie Luka Doncic scored 24 points, including the jump shot that put Dallas ahead for good with 1:10 remaining. In the closing seconds of regulation, he hit two free throws to tie the game and give him 58 points on the night.

isis-killer-beheading-video-story-top Meghan Markle Just Wore A Black-And-White Sequined Outfit Covered In Leaves
Nov 20, 2018 - 23:08
He continued: "Your Royal Highnesses, what a truly incredible honour it has been ... for you both to come face to face with me". Her hair was styled in a sleek bun and she accessorised with a glittery clutch bag and her Birks Snowstorm diamond earrings .

isis-killer-beheading-video-story-top Tekashi 6ix9ine arrested on racketeering charges
Nov 20, 2018 - 22:44
They said the rapper committed an armed robbery on April 3, and cited he was selling heroin and fentanyl among other drugs in NY . The indictment blames the alleged gang members for murder, burglary, ambush, drug dealing, and that's just the beginning.

isis-killer-beheading-video-story-top North Korea deports American even as it boasts of new weapon
Nov 20, 2018 - 22:04
The U.S.is demanding final, fully verified, irreversible denuclearization of the North before any sanctions are lifted. He was shot at five times as he bolted across the border, as North Korean soldiers trailed him.

isis-killer-beheading-video-story-top Boston Celtics left with questions following loss to the Jazz
Nov 20, 2018 - 21:37
Boston shot just 38.5 percent from the field against the Jazz, including 5 of 33 (15.2 percent) from 3-point range. They are shooting three's without thinking and that is not how to win in the National Basketball Association .

isis-killer-beheading-video-story-top Nissan Chairman Carlos Ghosn reportedly arrested over financial misdealing
Nov 20, 2018 - 19:50
But he was expected to remain chief executive of Renault and to continue in overall charge of the Alliance for the next few years. Ghosn is credited with transforming the loss-making Nissan into a modern company and pulling it back from the brink.

isis-killer-beheading-video-story-top Trump on China: 'Can't have trade that's meant for stupid people'
Nov 19, 2018 - 00:44
Economic relations between the US and China, the world's largest economies, have been thrust into uncertainty by an ongoing trade war.

isis-killer-beheading-video-story-top Hailey Bieber Is Now Instagram Official!
Nov 18, 2018 - 23:55
Justin said this week that he wants to put music on the back burner to focus on "self-discovery" with Hailey by his side. In an interview for Harper's Bazaar , the model gushed over her man, saying that 'He is incredible.

isis-killer-beheading-video-story-top Ariana Grande chops off her signature ponytail
Nov 18, 2018 - 23:32
Kevin Mazur via Getty Images Pete Davidson and Ariana Grande at the 2018 MTV Video Music awards. This time, she comes back with an iconic anthem of self-love, heartbreak, and forgiveness.

isis-killer-beheading-video-story-top Death toll in Northern California wildfire grows to 71, as search continues
Nov 18, 2018 - 23:32
In the community of Chico, just west of Paradise, volunteers had erected a tented encampment for others forced from their homes. Authorities say at least 71 are now confirmed dead in the Camp fire with more than 1000 people unaccounted for.

isis-killer-beheading-video-story-top Fitchburg State Basketball Player Barred From Campus For Vicious Elbow During Game
Nov 16, 2018 - 19:18
After Tenaglia launches a three-point shot, Platt continues charging and delivers a sucker punch right to the face. The clip began making the rounds on social media after Nichols' 84-75 win at Fitchburg State on Tuesday night.

isis-killer-beheading-video-story-top U.S. judge temporarily restores press pass to reporter
Nov 16, 2018 - 19:01
Of particular issue is whether his pass was taken away because of his rude behavior or due to the content of his reporting. If granted, however, Acosta will permanently be given his White House credentials back.

isis-killer-beheading-video-story-top Despite GOP leaders’ pleas, Trump won’t promise border compromise to avert shutdown
Nov 16, 2018 - 18:57
It would benefit them by electing other women who share their values and will fight to promote public policy that empowers women. Ernst is in her first term. "I think that it's awesome to have a young voter turnout as large as we did", Rachel Grode '19 said.

isis-killer-beheading-video-story-top NFL Players Are Considering Sitting Out Of Major Week 11 Game
Nov 16, 2018 - 18:32
But another source said he thinks moving the game to Los Angeles is still an option that will be decided this week. The game will now be played at the Rams' home, Los Angeles Coliseum.

isis-killer-beheading-video-story-top Hillary 4.0? Get Ready for a 2020 Presidential Bid
Nov 16, 2018 - 17:42
Penn predicts that Clinton's entry won't be at first, "but definitely by the time the primaries are in full swing". The article said Clinton needed a strategy to win over voters who surprisingly supported her rival in 2016.