According to Kuo, the order cut was due to a worse product mix expected in the first half of 2025 and uncertainty about iPhone revenues. This comes in line with expectations of the release of the iPhone SE 4, which, although usually cheaper, does not receive an annual update, which might change the balance in the market.

Apple shares slid Wednesday after industry supply chain analyst Ming-Chi Kuo said the company has cut orders for the iPhone 16 by about 10 million units.

The company has scaled down orders to suppliers for the iPhone 16 by about 10 million units, according to analyst Ming-Chi Kuo.

Apple is gearing up to release its quarterly earnings report next Thursday, as hinted earlier by Mark Gurman. We also expect the company to provide a forecast for the holiday quarter on the same day.

Apple has reduced its iPhone 16 sales expectations, says analyst Ming-Chi Kuo. The lack of significant AI features is a contributing factor to this decision, impacting production and revenue forecasts.

Apple fell Wednesday after Market analyst Ming-Chi Kuo at TF International, known for his knack of nailing predictions on Apple, delivered a gloomy update on iPhone 16 demand, saying the tech giant has cut a total of 10

Kuo is bullish on Apple's yet-to-be-released AI features but said it would likely take new hardware iterations to grow iPhone sales.

Apple stock fell after a noted analyst reported that the consumer electronics giant cut orders for its iPhone 16 smartphones.

Apple (AAPL) shares dropped 1.8% after TF International Securities' analyst Ming-Chi Kuo said iPhone 16 orders have been cut by around 10M units. Read for more.