Apple shares are trading lower 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 declined following analyst Ming-Chi Kuo's report that iPhone 16 orders were reduced by approximately 10 million units for the period of 4Q24 to 1H25.
October 23, 2024 | 3:57 pm
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Apple's stock is experiencing a downturn due to a report by analyst Ming-Chi Kuo indicating a reduction in iPhone 16 orders by about 10 million units for 4Q24 to 1H25.
The reduction in iPhone 16 orders suggests potential lower revenue and demand, negatively impacting investor sentiment and causing a decline in Apple's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100