According to Bloomberg, Apple Inc. (AAPL) has warned that demand for its iPhone 13 has waned, as customers are not willing to try to get the hard-to-find item. Earlier, the company had cut production of iPhone 13 by as many as 10 million units due to a global chip shortage, but now it informed the vendors that those orders may not materialize, as per sources. This year October, Tim Cook Apple’s Chief Executive warned that the impact of supply constraints, which cost the company $6 billion in sales in the fiscal fourth quarter and is expected to get worse during the holiday quarter and that chip shortage was affecting most of the company’s products.
Apple and some of its suppliers Broadcom Inc, 3M Co, and Advanced Micro Devices Inc did not comment on the matter.
Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it. To learn more about Apple (AAPL) and track its ongoing progress at Vista Partners Apple (AAPL), Coverage Page.
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