Apple Cuts Production Orders for All 3 New iPhone Models

Apple Cuts Production Orders for All 3 New iPhone Models Report

Apple Cuts Production Orders for All 3 New iPhone Models Report

In recent weeks, Apple slashed production orders for all three of the iPhone models that it unveiled in September, these people said, frustrating executives at Apple suppliers as well as workers who assemble the handsets and their components. Like Lumentum, Apple suppliers Qorvo and Japan Display have also cut their profit estimates, due to an unnamed large customer shrinking its orders - all three saw their stock value fall as a result.

However, it is worth pointing out that Apple will no longer report unit sales for next quarter onwards. The current batch of phones were the most expensive yet, but even these margins could not keep Apple's cash cow alive and some observers thought that the price increases were too much and even Apple buyers were not that dumb.

Trading volumes were also thin in the holiday-shortened weekend ahead of Thanksgiving Thursday and short trading session on Friday, which added a little bit of volatility to the markets, Frederick said. Although, Apple has fallen down from its previous $1 trillion market value.

NASA picks ancient Martian river delta for rover landing
Once the samples are cached, Nasa hopes to send follow-up missions to retrieve the samples and return them to Earth. The $2.5 billion (roughly Rs. 17,800 crores) rover is planned to launch in July 2020, and land in February 2021.

At 12:59 p.m. EDT the Dow Jones Industrial Average was down 392.90 points, or 1.55 per cent, at 25,020.32, the S&P 500 was down 40.74 points, or 1.49 per cent, at 2,695.53 and the Nasdaq Composite was down 185.94 points, or 2.57 per cent, at 7,061.93.

Over the weekend, Asia-Pacific leaders failed to agree on a communique for the first time ever at a meeting in Papua New Guinea with US-China trade worries on the forefront. "A unit of sale is less relevant to us today than it was in the past", Maestri said.

The S&P index recorded 26 new 52-week highs and seven new lows, while the Nasdaq recorded 15 new highs and 84 new lows.

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