Apple stock ticks down on report of cut to iPhone 14 Plus production

Shares of Apple dipped Tuesday a study that the institution has asked 1 supplier to halt producing a constituent for the iPhone 14 Plus portion the institution re-evaluates demand.

One of Apple's manufacturers successful China has been instructed to instantly halt accumulation of a constituent for the telephone little than 2 weeks aft its debut, according to The Information. Two different suppliers that assemble modules from that constituent person besides chopped accumulation dramatically, the study says.

The iPhone 14 Plus, which starts astatine $899, is simply a cheaper alternate to the company's iPhone 14 Pro Max model, which starts astatine $1,099.

The caller study suggests that consumers are opting for the much costly exemplary among the 2 large-screened iPhones. That maps to an earlier study from Bloomberg that said the institution told suppliers to bail connected plans to summation iPhone 14 accumulation in September. (The iPhone 14 is the cheaper alternate to the iPhone 14 Pro.)

Demand for the caller models failed to spike arsenic precocious arsenic anticipated, Bloomberg had said.

Apple declined to remark connected the report.

Shares had been trading astir $145 and mislaid astir $4 per stock connected the report, but person since recovered slightly. Apple banal is present level connected the day.