Apple shares are trading higher after analyst Ming-Chi Kuo said iPhone 16 orders were cut by around 10 million units for 4Q24–1H25.
Portfolio Pulse from Benzinga Newsdesk
Apple shares are trading higher despite analyst Ming-Chi Kuo's report of a 10 million unit cut in iPhone 16 orders for 4Q24–1H25.
October 23, 2024 | 3:56 pm
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Apple shares are trading higher despite a report from analyst Ming-Chi Kuo indicating a reduction of 10 million units in iPhone 16 orders for the period of 4Q24 to 1H25.
Despite the negative news of a 10 million unit cut in iPhone 16 orders, Apple shares are trading higher. This suggests that investors may be focusing on other positive aspects of Apple's business or market conditions, leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100