'Not even releasing a new product can save the company from falling.'
The United States (US) equity market yesterday saw a positive rebound with most stocks making gains but not for Apple Inc.
Apple shares were seen down more than 4% after reports said there was a reduction in demand.
According to Plurimi Wealth's head of investment, Patrick Armstrong, the Federal Reserve's (Fed) interest rate hike has led to a drop in demand as rising mortgage costs affect consumer spending.
In addition, the news about the sales performance of the iPhone 14 Pro and Pro Max versions that are less than encouraging also had an impact.
According to Abhilash Kumar from the data research firm Strategy Analytics, the new release model is no different from the iPhone 13 product, there are only a few improvements.
And although the offer price for the iPhone 14 has no difference with the old model, it can be considered not worth it especially with the current macroeconomic situation.
For those factors, inside sources say Apple may have to forget plans to double the production of the new product.
For the record, Apple released its new products this year a little late due to product mix issues.
This indirectly forced Apple to shift production focus from the base model to the Pro version only across Asia.
In the meantime, Apple supplier companies such as Qualcomm, Taiwan Semiconductor, STMicroelectronics, Infineon, and ASML also experienced a decline.
As of this writing, Apple shares are trading down 1.27% at $149.84.
