Apple To Halve iPhone X Production in Q1, Shares Fall
Recent reports reveal Apple could slash its Q1 iPhone X production target by a half – news which sent Apple’s shares sliding to their lowest level of the year.
According to the Nikkei Asian Review, several analysts forecast Apple will cut its original production target for the first three months of the year to around 20 million units.
The figure is slightly better than KGI’s revised forecast of 18 million.
The news adds concern to many investors about the sales of the company’s latest flagship device, the iPhone X, which many speculate is notably less than anticipated.
Following the news, shares in Apple reportedly fell 1.8%, wiping US$14 billion off the Californian tech giant’s market value.
Whilst some analysts have cut their sales forecasts for the iPhone X, they do not anticipate significant falls in Apple’s profit figures, following recent tax reductions in the United States.
UBS analysts recently surveyed the number of people who intended to purchase the iPhone X – now 37%, down from 43% when earlier surveyed.
Apple is scheduled to report its first-quarter results this Friday AEDT.