Is Apple Cutting iPhone Production?

Apple may be scaling back production of its now iconic iPhone smartphones, despite selling nearly 7 million of the touch-screen devices in the last quarter, according to two industry analysts: FBR Capital Markets and UBS

“We believe Apple is a good proxy for broader consumer demand given that it has the hottest, sleekest, most desirable products available today,” Berger wrote in his report. “That the firm's iPhone production plans are being revised lower suggests that the global macroeconomic weakness is impacting even high-end consumers, those that are more likely to buy Apple's expensive gadgets, and that no market segment will be spared in this global downturn” – said Craig Berger, FBR Capital Markets analyst.

“Our checks indicate various iPhone supply chain cuts by 1.7 million units to 2.3 million” – according to UBS analyst Maynard Um.