IFNNY - Apple tells suppliers iPhone demand is slowing - Bloomberg

Apple (NASDAQ:AAPL) says it may not make up for missed holiday sales for the iPhone 13 caused by a lack of parts, Bloomberg reports. Supply chain issues have already. forced the company to cut its 2021 iPhone 13 production target by 10M units. Now it tells suppliers that demand for the phones has weakened, indicating that customers may just skip upgrading to the hard-to-find phones and not order next year when production increases, Bloomberg says, citing people familiar with the matter. AAPL is down 1% in premarket trading. Among Apple suppliers, LG Innotek is down 8% in Korea, TDK is off 3.5% in Japan In Europe, Infineon (OTCQX:IFNNY) is down 1% and STMicroelectronics (NYSE:STM) is down 1.3%. Apple (AAPL) shares have shown exceptional resilience during the selloff of the last two days, rising nearly 3% while the Nasdaq Composite (COMP.IND) fell 3.3%. The stock is up 10% in the last month. UBS said yesterday that wait times for the iPhone

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Apple tells suppliers iPhone demand is slowing - Bloomberg