Apple erases gains as it reportedly cuts iPhone 14 Plus production shortly after debut - Seeking Alpha

Apple (NASDAQ:AAPL) shares erased earlier gains and turned somewhat antagonistic connected Wednesday aft The Information reported that the tech elephantine had chopped accumulation of its iPhone 14 Plus exemplary little than 2 weeks aft it debuted.

The mews outlet, citing 2 radical successful Apple's (AAPL) proviso chain, reported that Apple (AAPL) was reevaluating request for the merchandise and told a Chinese shaper to "immediately halt production" of iPhone 14 positive components.

Two Apple (AAPL) suppliers chopped their accumulation connected the iPhone 14 Plus by 70% and 90% respectively, the idiosyncratic added.

The iPhone 14 Plus, which debuted connected October 7, is priced astatine $899, lone $100 little than the technologically superior iPhone 14 Pro. The iPhone 14 Pro and iPhone 14 Pro Max are inactive seeing beardown demand, arsenic evidenced by hold times connected Apple's (AAPL) planetary websites.

Apple did not instantly respond to a petition for remark from Seeking Alpha.

Several analysts person recently noted the continued spot of the iPhone 14 Plus, which was unveiled successful aboriginal September.

Apple (AAPL) shares fell fractionally to $142.23 successful precocious Wednesday trading aft having been up arsenic overmuch arsenic 1.5%.