Apple's shares fell 4% on a report that the company has told suppliers to stop making the phone. The demand for the new models didn't go as high as expected.
According to the report, Apple will not be increasing production by 6 million units in the second half of the year. The company will try to produce 90 million units, which is in line with Apple's forecast.
The report had an impact on Apple suppliers. Taiwan Semiconductor Manufacturing's shares fell. The shares of Hon Hai were down. Apple's phones are built by a Taiwanese company called Foxconn.
At least one Apple supplier is shifting production capacity from the lower-tier models to the premium version due to higher demand for the iPhone 14 Pro.
An Apple representative wouldn't say anything.
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Customers line up to meet Tim Cook at the launch of the new phone.
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