What They Say
Bloomberg reported that Apple has told suppliers that it is seeing weaker demand for the iPhone 13 range. As they have got hard to get because of supply chain shortages, consumers have started to decide to skip buying a new device and will wait for the next generation. This is despite the wait reducing from around four weeks to just two, the report said. Still, the site said that the forecast is for 6% growth in revenues in Q4 to $117.9 billion. Apple’s shares fell 4.2% on Thursday as did the shares of some suppliers.
What We Think
The iPhone 13 is only a relatively small upgrade from the 12 platform which was a significant one partly because of the addition of 5G support. When you consider that the overall smartphone market is basically flat, the kind of growth that Apple has achieved would be received with much more praise, it seems! (BR)
