Apple Stock Drops Nearly 4% Amid Reports of Reduced iPhone 16 Orders

Barclays analysts suggest Apple has cut iPhone 16 production by 3 million units due to softening demand.

Apple shares fell almost 4% after Barclays analysts reported potential cuts in iPhone 16 orders at a key Taiwanese supplier.
Barclays analysts Tim Long and George Wang indicated that Apple might have reduced orders by approximately 3 million units for the December quarter.
The reduction in orders, if confirmed, would mark the earliest production cut in recent history for Apple's iPhone.
Initial reports had suggested strong demand for the iPhone 16, but recent checks show shorter lead times and a 15% year-over-year decline in sell-through.
Factors contributing to the demand issues include the staggered rollout of Apple Intelligence and limited AI adoption outside the U.S.