As we predicted, here comes the 'Apple has cut iPhone 14 orders' FUD
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As we predicted, here comes the ‘Apple has cut iPhone 14 orders’ FUD
According to Bloomberg News, under the misleading, fomenting, headline “Apple Ditches iPhone Production Increase After Demand Falters,” Apple had upgraded its sales projections in the weeks leading up to the iPhone 14 release and some of its suppliers had started making preparations for a 7% boost in orders. Now, Apple will reportedly build some 90 million units for the second half of this year, which is in line with iPhone 13 production over the same period last year.
Debby Wu and Takashi Mochizuki for Bloomberg News:
Apple Inc. is backing off plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, according to people familiar with the matter.
The Cupertino, California-based electronics maker has told suppliers to pull back from efforts to increase assembly of the iPhone 14 product family by as many as 6 million units in the second half of this year, said the people, asking not to be named as the plans are not public. Instead, the company will aim to produce 90 million handsets for the period, roughly the same level as the prior year and in line with Apple’s original forecast this summer, the people said.
Demand for higher-priced iPhone 14 Pro models is stronger than for the entry-level versions, according to some of the people. In at least one case, an Apple supplier is shifting production capacity from lower-priced iPhones to premium models, they added.
Apple shares fell about 3% in pre-market trading in New York on Wednesday. US stock-index futures were also lower.
MacDailyNews Take: This is a non-story out of Bloomberg News (so, of course, know-nothing investors panic). Use it and the dip it drives to make money.
Citing “people familiar with its projections,” the very same fomenting Bloomberg News bovine excrement artisans reported in May of this year that Apple is planning to keep iPhone production roughly flat in 2022, asking suppliers to assemble roughly 220 million iPhones, about the same as last year.
In other words, the “news’ today is same story the same “news” outfit as reported in May with the added topping that has been widely reported for weeks (see article below), that demand for Apple’s premium iPhone 14 Pro and iPhone 14 Pro Max is so strong as to cause Apple to shift production from lower-priced to high-priced iPhones. QUELLE HORREUR!
It’s FUD*. Use it to your advantage.
Apple is going to make and sell roughly the same amount of iPhones as last year, but more of those will be higher-priced “Pro” models. Last year, Apple set an all-time revenue record of $123.9 billion for the holiday quarter. With iPhones making up some 50% of Apple’s total revenue, the company is quite likely to set a new all-time revenue record this holiday quarter, as well.
Of course and as usual, our ever-flawless crystal ball predicted today’s Bloomberg “News” report quite clearly two weeks ago:
Apple iPhone mix is easily going to be the strongest ever. Do not be surprised with the reports that Apple has “cut iPhone 14 orders,” meaning iPhone 14 and iPhone 14 Plus. The company will likely be increasing iPhone 14 Pro and iPhone 14 Pro Max orders to reflect the strong mix which bodes very well, of course for Apple’s iPhone average selling price (ASP). – MacDailyNews, September 14, 2022
Read the all “news” with a critical eye. Watch how widely this non-news piece of FUD is regurgitated throughout the media and used to drive Apple stock price lower. Extrapolate to all types of “news.”
See also:
• Apple’s focus on elevating, differentiating iPhone Pro models is paying off – September 27, 2022
• Apple’s iPhone 14 ASP trending ‘ahead of iPhone 13’ – analyst – September 27, 2022
• iPhone 14 pre-order demand is ‘robust,’ tracking ahead of expectations – Wedbush – September 12, 2022
• Apple needs to significantly increase iPhone 14 Pro production to have enough for Christmas – analyst – September 20, 2022
*FUD – Fear, Uncertainty, and Doubt.
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