Apple reportedly cutting iPhone X orders in half due to slow sales

Technician working with silicon wafers in a high tech lab

The shares sank $3.11 to $168.40 in Monday's late afternoon trading, translating into a almost $60 billion loss in the company's market value since the stock last peaked. The company declined to comment. But Apple supposedly notified suppliers that it'll cut that initial estimate down to just 20 million units for the period.

"Apple earnings should handily beat December quarter expectations, but March guidance could moderately disappoint", UBS analysts said.

These lower production targets were prompted by lower than expected sales over the holiday season.

Usually reliable leaker of all things Apple, Ming-Chi Kuo has issued a new report, obtained by MacRumors that casts some serious doubt over an iPhone SE 2 launching later this year. Ordering fewer units would leave Apple with as little stock as possible moving into the next quarter. Increased output, coupled with decreased iPhone X-related demand, could cause NAND prices to slide further.

Sacconaghi of Bernstein had originally predicted that Apple would outpace Wall Street expectations of 62 million iPhones by selling 66 million units, but on Monday he cut that figure to 53 million units, a almost 20-percent cut. According to Forbes, Kuo's note pegs the 6.1-inch, mid-range LCD iPhone model that Apple is rumored to be launching later this year as the "iPhone X SE".

But he only slightly revised his full-year earnings per share estimate for 2018 to US$11.80 from US$11.87, citing the positive effects of USA tax law changes.

Ont. Conservative MPP says she flagged Brown rumors to party weeks ago
Fedeli can run in the leadership race and declared his intention to be a candidate, noting he respected the executive's decision. The allegations have not been independently verified by The Canadian Press, and Brown has said they are "categorically untrue".

Speculation about disappointing demand for the iPhone X has been swirling for the past week, contributing to a 6 per cent decline in Apple's stock since it hit an all-time high of $180.10 on January 18. Other than the next generation of the iPhone X at 5.8-inches, rumors are that it will be joined with a 6.1-inch iPhone X SE and a 6.3-inch iPhone X Plus.

Sales of the pricey new iPhone X are reportedly much lower than Apple expected, so the company has slashed production volumes for the coming months.

If you were counting on a new iPhone SE arriving this spring, maybe it's time to start making alternative plans.

Shares of Apple were down by around 0.5 percent in US premarket trade.

Nikkei carries the report, based on unnamed supply-chain sources.

Related News:

  • Please Don't Spend $500 on One of Elon Musk's Flamethrowers

    Please Don't Spend $500 on One of Elon Musk's Flamethrowers

    The flamethrower will be shipped internationally, but delivery costs and taxes are not included in the price, the company said. For those insane enough to buy one of these there are only 20 000 'throwers available so you best get your order in quickly.
    How Hillary Clinton Filmed A Surprise Cameo For The 2018 Grammy Awards

    How Hillary Clinton Filmed A Surprise Cameo For The 2018 Grammy Awards

    The bit then cut to auditions for narrators of the now infamous book about President Trump, Fire and Fury by Michael Wolff . Nikki Haley wrote on Twitter that the show should not 'ruin great music with trash'. "Trump won't read anything".
    Relief for 1000 workers in Belfast as USA  jet tariff overturned

    Relief for 1000 workers in Belfast as USA jet tariff overturned

    Three months ago, with the jetliner's access to the USA market in doubt, Bombardier turned to a powerful partner: Airbus SE . Bombardier also welcomed the ITC's ruling, calling it "a victory for innovation, competition and the rule of law".
  • Samsung Galaxy S9, Galaxy S9

    Samsung Galaxy S9, Galaxy S9

    Using both simultaneously would improve the accuracy of both and give users a consistent experience whatever the lighting. This is now not in the Note8, S8, or S8 active Oreo beta builds.
    Red states will be the real losers from Trump's solar tariff

    Red states will be the real losers from Trump's solar tariff

    Increasing the cost of solar by 10-cents a watt will mean projects aren't built, people aren't hired, and investment isn't made. His focus might well switch from the struggling coal miner to the thriving construction worker installing solar panels.
    Vince McMahon on Kaepernick Playing in the XFL: 'Why Not?'

    Vince McMahon on Kaepernick Playing in the XFL: 'Why Not?'

    We'll see if that holds true if Johnny Manziel comes knocking, but for now it's a hardline stance. Per ESPN , McMahon's league will not allow any player with a criminal record.
  • After a long history, Indians remove Chief Wahoo from uniforms

    After a long history, Indians remove Chief Wahoo from uniforms

    The NFL's Washington Redskins have come under similar fire to change their logo and nickname but so far have resisted. It is merely a coincidence that 2019 will be the first year they don't use the Chief Wahoo logo in any capacity.

    Lunar trifecta to end January

    The Virtual Telescope Project will also live stream the eclipse with source material in Australia and the U.S. beginning 6:30 a.m. Some determined sky watchers in ME may be able to catch the start of the lunar eclipse before sunrise Wednesday morning.
    NHL All-Star Skills Competition 2018: Results, Winners, Highlights and Reaction

    NHL All-Star Skills Competition 2018: Results, Winners, Highlights and Reaction

    The NHL's best players hit the ice Sunday at Amalie Arena in Tampa Bay, Fla., for the 2018 NHL All-Star Game 3-on-3 tournament. He also competed in the Hardest Shot challenge and posted 95.2 miles per hour on his first attempt and 95.9 on his second.
  • Trump condemns Kabul car bomb attack

    Trump condemns Kabul car bomb attack

    This came after President Donald Trump said on twitter Saturday that "we will not allow the Taliban to win". The explosion happened in a busy part of the city where the High Peace Council has offices.
    SpaceX Conducts First Static Fire Test for Falcon Heavy

    SpaceX Conducts First Static Fire Test for Falcon Heavy

    That's the biggest payload capacity since the Apollo lunar program's Saturn V rocket, which could take a mammoth 310,000 pounds. The 20-story rocket looks like a Falcon 9 , but with two core stages strapped to its sides, equaling three total.
    VAR in the spotlight in Liverpool's FA Cup loss to West Brom

    VAR in the spotlight in Liverpool's FA Cup loss to West Brom

    That's not how defending should be. "We didn't use the chance on the penalty and then their third goal must be offside". It is the second loss in a row for Klopp's side and the Liverpool manager was visibly down in his post-match interview.


Most liked

Rebel group blamed for attacks on police in Colombia
Another version includes it being the revenge of bandits for police operations committed against drug trafficking in the city. President Juan Manuel Santos blasted the "cowardly attack" on Twitter.

Family members of Pennsylvania shooting victims say suspect acted out of jealousy
He said two of the victims were found inside a pickup truck and two others were found outside in the auto wash's parking lot. Porterfield said that she and her husband - who were married in November - had been "having some troubles" this month.

Afghan troops die in Islamic State attack on Kabul military academy
Secretary-General said António Guterres "strongly condemns" the attack and said those responsible must be brought to justice. The resident said additional smaller blasts could be heard at frequent intervals following the larger explosions.

Pinnacle Bank Arena performers hauling in Grammy Awards
New Zealand's own Lorde is up for the biggest music award of the year tomorrow, but has been snubbed in another way. A shaking Alessia Cara won best new artist , winning over SZA, Julia Michaels, Khalid and Lil Uzi Vert .

Russian Federation denies re-exporting North Korean coal despite sanctions: Ifax
Terry said Moon could seek to extend that suspension and bring the US and North Korea together for negotiations on denuclearization.

Trump returns from Davos to host of Russia inquiry claims
Mueller III will question about the firing of the national security adviser Michael Flynn and FBI Director James B. McGahn disagreed with the president's case and told senior White House officials that firing Mr.

North Korea exports coal to South Korea and Japan through Russian Federation
The talks are seen as an important step as it is the first time the North and South have been in dialogue in around two years. The resort was reportedly built with luxury goods in 2013 that violated sanctions on North Korea at the time.

Growth rises faster than expected at end of 2017
Rising imports underscore the challenges that the Trump administration faces in its quest to boost annual GDP growth to 3%. The report said consumer spending surged up by 3.8% in the fourth quarter after increasing by 2.2% in the third quarter .

Police say Shermans were murdered by unknown persons
What was revealed on Friday? The last time they had been seen or heard from was two days before their bodies were found . The couple's bodies were found in their northern Toronto home after the police received an emergency phone call.

Catch the rare super blue blood moon Wednesday
It's not so much of a mind-blowing event as the blood moon , but it's a little more visually significant than the blue moon . In the article, he misinterpreted the definition of the blue moon as an extra full moon in a calendar month.

Candid digicam: Dutch hacked Russians hacking DNC, together with safety cameras
Their camera access was said to add to evidence that the hacks from the group were backed by Russia's Foreign Intelligence Agency. From those pictures, Dutch intelligence deduced that a Russian intelligence agency known as the SVR actually leads Cozy Bear .

Cent Just Remembered He Has $8 Million in Bitcoin
In 2014, Bitcoins were priced between $770 at the start of the year but were trading at the mid $350 range by December 2014. The fact that he was ready to integrate Bitcoin into album sales was a big sign of trust and he has reaped the benefits.

Tension grows between United States and Turkey over Syria
Mr Erdogan has sworn to " destroy " the group and the "army of terror" he accuses the U.S. of engineering inside Syria. Erdogan said President Donald Trump asked him "not to criticize us so much" during their telephone call on Wednesday.

Plastic Waste Associated with Disease in Corals
Besides affecting the corals, plastic is feared to also be affecting ocean floor life such as sponges and kelp beds. How can plastic waste cause disease? "Disease likelihood increased 20-fold once a coral was draped in plastic".

Exceptional Rise of Seine River Waters Expected in France
The Seine River in Paris is expected to hit its peak on Saturday, as hundreds of residents have been evacuated as a precaution. French authorities have been put on standby as the rain-swollen Seine River continues to engulf surrounding walkways.