Apple Cuts iPhone 18 Pro Component Orders 15%: Report - Apple (NASDAQ:AAPL), SAMSUNG ELECT LTD by Samsung

Apple shares fell 2% to $335 after Nikkei Asia reported a 15% cut in iPhone 18 Pro component orders due to softer demand. The price increase, attributed to higher memory chip costs, may be a factor. Apple has not commented. The cut also follows the absence of a standard iPhone 18 model this fall, which may impact demand. Micron benefits from higher memory chip prices.

Apple (AAPL) shares fell 2.3% after a report indicated the company reduced component orders for iPhone 18 Pro models by 15-20% due to cooler consumer demand. The stock later recovered slightly to $333.57, down 2.1%. Apple did not comment on the report. The company's shares are up 23.1% year-to-date, near their 52-week high.

U.S. consumer prices for September are expected to rise 0.6%, driven by a 10% jump in gasoline prices, while core inflation is projected to increase 0.2%. Apple Inc. raised iPhone prices, potentially pushing up the CPI for education and communication goods by 1.2%. The Federal Reserve may consider this data at its October 28 meeting. Apple's stock is trading at $332.34, 15.4% above its GF Value™ of $288.10, indicating modest overvaluation.

Apple plans to unveil seven new products across two events on October 13 and 27, including home devices and MacBook Pro models. The October 13 event in New York may feature a smart home hub, HomePod mini, and Apple TV 4K, while the October 27 event is expected to include MacBook Pro models with OLED displays and new iPad and iMac models with M6 chips, according to Bloomberg's Mark Gurman.

Apple's stock fell 3% to $331.22 after reports of reduced component orders for the iPhone 18 Pro due to weaker demand and higher costs. Skyworks Solutions dropped 2% to $78.95, while Qualcomm rose 0.4% to $176.64. The broader chip sector and tech ETFs gained, indicating the selloff is specific to Apple and its suppliers.

Apple Inc. (AAPL) shares fell 2.56% due to concerns over weaker iPhone demand, especially in China, and regulatory risks. The company reported strong quarterly earnings with $109.4B revenue and $29.8B net income, but faces a $5.7B patent verdict and potential EU taxes. AAPL trades at a high P/E ratio of 38.6, making it sensitive to negative news.