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Apple Tells Suppliers iPhone Demand Weakens Ahead of Holiday Period—Reports

·1 min read
Apple Tells Suppliers iPhone Demand Weakens Ahead of Holiday Period—Reports
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Apple has warned its suppliers that demand for its iPhones is lower than expected ahead of the holiday season, according to “people familiar with the matter” quoted by Bloomberg news. The demand slump comes in addition to the supply problems created for Apple (ticker: AAPL) and all electronic goods makers by the global chip shortage and other supply constraints. Analysts however forecast a record year for Apple this year, with revenue seen jumping 6% in the last quarter of the year.