Apple and suppliers shares fall on report of iPhone SE production cuts

Shares of Apple and its suppliers fell in Monday morning trading following a Nikkei Asia report that said Apple plans to make about 20% fewer iPhone SE units next quarter.
Apple’s 5G iPhone SE 3 is powered by the A15 Bionic chip
Joe Woelfel for Barron’s:

The company has been telling multiple suppliers that it aims to lower production orders by about 2 million to 3 million units for the quarter, citing weaker-than-expected demand, according to a report from Nikkei Asia, which cited four people briefed on the matter.
The report also said Apple reduced orders for its AirPods earphones by more than 10 million units for all of 2022, with the company predicting lukewarm demand.
The report noted that demand has been dented by the Russia-Ukraine war and the outlook for higher inflation.

MacDailyNews Take: Currently, the reaction is not as much as those looking for a nice discount might expect with Apple shares off just $1.17 (-0.67%) to $173.55.
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