the company has shelved plans to increase production of its new iPhone 14 this year because an anticipated demand surge hasn't occurred.
Stock in the tech behemoth lost as much as 3.9% at $145.79 in premarket trade then pared the decline to 3.4%. latest iPhone series by as many as 6 million units in the second half of this year, the report said, citing sources who asked not to be named because the plans are not public. The company will target production of 90 million handsets for the period, about the same level as the prior year andSome of Apple's suppliers had started preparing for a 7% boost in orders after the company raised its sales projections in the weeks leading up to the iPhone 14 release, the report said.
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