A man passes by an Apple store in Krakow, Poland.
Apple shares were down 3% Thursday after a report that said the company warned its suppliers demand is lower than expected.
Apple's stock resisted the omicron-fueled volatility in the market this week, but word of weak demand on top of the known supply chain issues rattled investors Thursday morning. An Apple spokesman did not comment on the report.
The first full quarter of the new iPhone model will be available in the current quarter. Apple introduced a new version of the AirPods and a redesign of the MacBook Pro before the holiday shopping season. The company's shares will fall if there are signs of a decline in demand for the iPhone during the holidays.
Analysts expect Apple to report growing revenues for the quarter after it booked more than $100 billion in revenue for the first time in the holiday 2020 quarter. Tim Cook told CNBC that he expects revenue to grow in the quarter, but that supply constraints will cost the company at least $6 billion in missed revenue.
