BUZZ-Apple drops as analyst says iPhone production cut by 10 mln units
Reuters10-24
** Shares of iPhone-maker Apple fall 1.9% to $231.20
** iPhone 16 orders cut by around 10 million units for fourth quarter to first half of 2025, with most of the cuts affecting non-Pro models - TF International Securities analyst Ming-Chi Kuo says
** iPhone 16 production for 2H24 is now estimated at 84 million units, down from around 88 million previously, no evidence yet that Apple Intelligence could boost iPhone shipments in the near term, analyst adds
** Up to last close, stock had risen 22.4% this year
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com; ))
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