Technical Analysis

Apple has slashed new iPhone production by 3mn, citing slowing demand

Bloomberg with the report.

Earlier in the session AAPL laid the blame at the feet of Chinese health authorities:

It was an oddly non-specific statement from the firm. It appears this later news is more in line with what is causing AAPL woes. Its approaching holiday season and Apple warning of lower demand is not a good sign. Higher interest rates coupled with surging prices weighing on demand.

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