Stock Futures Fall After Apple Drops Plans To Boost iPhone Production Due To Lack Of Demand

Stock Futures Fall After Apple Drops Plans To Boost iPhone Production Due To Lack Of Demand
A man holds an iPhone 14 as Apple's new models go on sale at an Apple store in Beijing on Sept. 16, 2022. Thomas Peter/Reuters
Bryan Jung
Updated:
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Apple shares fell on Sept. 28, after the company dropped its plans to increase production of its new iPhone 14 this year due to suddenly reduced demand.

According to an article in Bloomberg the day before, Apple executives admitted that the electronics giant had overestimated consumer demand for its new iPhone 14 model this holiday season.
Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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