AAPL Stock Price Down After Company Cuts iPhone 8 Production In Half

Angelica Greene
October 20, 2017

The company cut orders to its manufacturing partners for the iPhone 8 by more than 50 percent, according to a report from Tapei publication Economic Daily News that was picked up by Reuters.

As such, it's no wonder that the iPhone X with its significantly different design over previous iPhones is getting Apple fans all hot and bothered.

The iPhone 8, released last month, had faced a decrease in sales during the opening week compared to previous iPhone models.

There has been questions for a while now as to whether Apple complicated its device range too much, and whether the iPhone X simply costs too much.

While our checks are ongoing, initial feedback from our meetings suggests that final production of iPhone X has not yet begun, with production expected to commence in late-October.

Apple (NASDAQ AAPL) traded down 2.82% during mid-day trading on Tuesday, reaching $155.26.

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Signs of poor demand for the iPhone 8 fuelled more questions on Thursday over Apple Inc's strategy of releasing two phones within months of each other in 2017, sending its shares nearly 3 percent lower.

Of course, demand for the iPhone 8 could be dampened down by the fact that Apple is putting its 10th anniversary iPhone X on sale on November 3.

While the iPhone 8's struggles aren't great for Apple (or for its stockholders, at the moment), there's still a few reasons to hold off on calling for the device to go to an early grave. The iPhone X, which goes on sale November 8, features an all-new design with an edge-to-edge OLED screen and revolutionary facial recognition technology.

While the iPhone 8 is now being sold, the iPhone X will be released on the 3rd of November, but the units will still be sold sparingly until next year. While the iPhone X includes a full-face organic light-emitting diode (OLED) display and an all-new aesthetic, the iPhone 8 and iPhone 8 Plus continue to use older liquid crystal displays (LCDs) and identical form factors to their predecessors.

"Why are there two distinct models in Apple's iPhone portfolio?"

A report from analyst Christopher Case says Apple has not even started production of the iPhone X and the preorders are due next month.

Other reports by GizPress

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