AAPL Declines 1.18% Pre-Market Amid Reduced iPhone 16 Orders from Taiwanese Supplier

Oct 01, 2024

Apple Inc. (AAPL, Financial) saw a 1.18% drop in pre-market trading to $230.25. Barclays reported data indicating that a major Taiwanese supplier has cut iPhone 16 orders for the December quarter.

Barclays had previously noted shorter global delivery times for the iPhone 16, both suggesting weak demand for the latest model. The firm maintains a "Underweight" rating for Apple, with a price target of $186.

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