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Apple Share Tumbles as iPhone 13 Production Reportedly Slashed

Apple Share Tumbles as iPhone 13 Production Reportedly Slashed.           It comes as a global shortage of semiconductors impacts all industries that need computing power to run, from car manufacturers through to games consoles and mobile phones.

The iPhone 13 has a new diagonally-aligned dual-camera array. Pic: Apple

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The value of shares in Apple dropped on Tuesday following reports that the company has slashed production numbers of its new iPhone 13.

Apple is going to make 10 million fewer devices than it had initially planned, reported Bloomberg News, due to the ongoing global shortage of computer chips.

The expected impact on the company’s business caused Apple’s share price to go down by 1.2% in after-hours trading.

Customers queue to buy the new Apple iPhone 13 outside the tech giant’s flagship store in Regent Street, central London.
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Apple has reportedly slashed production of the iPhone 13, which launched to long queues in London in September. Pic: PA
It comes as a global shortage of semiconductors impacts all industries that need computing power to run, from car manufacturers through to games consoles and mobile phones.

Earlier this year, Apple’s chief executive Tim Cook warned that the company had been using a buffer stock of semiconductors to meet demand.

Mr Cook said Apple anticipated sales of iPads and Macs would be $3bn to $4bn lower in its third quarter than would be the case without supply issues.

The company launched its new iPhone 13 range in September and is set to hold another special event next week, in which it is expected to announce new Macs and MacBooks.

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