Technical Analysis

Apple cuts iPhone 14+ production less than 2 weeks after debut

Apple is cut in production of its iPhone 14+ less than 2 weeks after its debut. This according to 2 people involved in the company’s supply chain.

The news has seen a reversal in the fortunes of the US stock indices . The NASDAQ index is now up only 10 points or 0.09%.

Apple shares are now trading at $141.60. They were trading at $145.15 before the report.

Looking at the hourly chart, the price has seen a dip back below its 100 hour moving average at $142.14 (see blue line in the chart below) but is currently trading above and below the moving average level.

On the topside, the 200 hour moving average comes in at $147.99. The last time the price traded above its 200 hour moving average was back on August 26.

Apple shares are

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