Analyst Claims Apple Slashed All Model iPhone Orders by 20 Percent
That figure comes from Brian Blair, an analyst at Wedge Partners, who said in a note that Apple's slashing orders of all iPhone models in the second half of the year in response to a continued slowdown in growth, The Telegraph reports.
Apple is now on pace to produce 90 million to 100 million iPhones in the second half of the year. That's a staggering number of handsets, though down from previous estimates of 115 million to 120 million units. Even with the cuts in place, Apple figures to increase iPhone sales by 26 percent.
Expect investors to largely ignore the sales increase and focus instead on the reduced orders. Investors are notoriously fickle, especially with Apple, which continues to post record financial results every quarter.