Apple Reportedly Slows Down iPhone 14 Series Production, But Still Well Ahead of 2021 per DSCC, Pro Max Up 18% Y/Y
Bloomberg reported last week that Apple asked suppliers to get ready for an additional 7% boost to its CY 2022 production targets shortly before launch, but recently decided to cancel those plans. The cause of course is the weakening global economy with Europe headed to a recession on super high energy prices, weaker currencies relative to the $US and even weakness in China due to COVID related shutdowns and economic weakness. Jefferies reported that iPhone sales over the first three days of availability in China were down 11% Y/Y with less scalper activity and shorter lines in retail. Bloomberg said Apple plans to make 90M iPhone 14 Series phones in 2022 with emphasis on the Pro and Pro Max models.