Apple's stock price fell as much as almost 2% in Friday's trading, pulling the Nasdaq lower by 0.45%. It's said that Apple placed orders for production of up to 100 million units of the iPhone 8, iPhone 8 Plus, and iPhone X but total shipments for the year are now expected to reach 80 million units.
Top Apple analyst Ming-Chi Kuo said earlier this week that Apple might cut prices of new iPhones to debut later this year by as much as $300, according to several media reports.More news: "Girl in the Spider’s Web" trailer is #MeToo revenge fantasy
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Apple reported iPhone unit sales of 52.2 million in its most recent quarter, slightly below the Thomson Reuters consensus estimate of 52.3 million.
It is thought that the high price of the iPhone X is responsible for a drop in demand for Apple's flagship handset - something that has disappointed investors.
"I am not overly concerned ... about the lower supply speculations", he said. Previous reports suggested that this request by Apple could lead it to release the OLED sporting 5.8-inch iPhone Xs and 6.5-inch iPhone Xs Plus in September prior to the release of the iPhone 9. "Apple is doing enough, in general, to keep the ball moving forward".