Apple warns suppliers about iPhone demand: report
It is expected that Apple will see a recovery in demand for its products after the holiday season falters amid a report that the company warned suppliers about drag softness. until 2022.
As reported by Bloomberg announced early Thursday, the company informed its suppliers that a production increase in the new year is likely not going to happen.
In October, Apple reported a Rarely missed revenue in its fourth fiscal quarter, as sales of iPhones and wearables slowed, citing the company’s challenge from supply shortages. The company predicted at the time that chip shortages would be a pressure during the holiday season.
Meanwhile, some stocks on Wall Street remain upbeat.
Wedbush analysts Daniel Ives and John Katsingris forecast strong holiday sales for the iPhone, boosting their Apple
price target to $200 from $185 due to growing confidence in the iPhone 13 cycle in 2022. Test of iPhone 13 sales “continues to be much stronger than expected given our confidence us that Apple is now starting to sell 40 million iPhones in the north during the holiday season though it said in a note to customers.
Shares of Apple are up 24% year-to-date, well below the 80% plus gains seen in both 2020 and 2019. In 2018, the stock ended the year down more than 6%.
https://www.marketwatch.com/story/apple-warns-suppliers-over-iphone-demand-report-11638434452?rss=1&siteid=rss Apple warns suppliers about iPhone demand: report