Apple admits slowdown in iPhone demand

Apple fell 4.2% after it became known that the company had warned suppliers about slowing demand for the iPhone 13 line, reported . Bloomberg

In addition to Apple itself, its largest component suppliers, LG Innotek and STMicroelectronics, lost capitalization.

“These comments are consistent with our assessment of the iPhone 13 product cycle as weak,” New Street Research analyst Pierre Ferragu (traditionally betting on Apple’s downfall) told the agency. “And this is not only a problem with buyers' dissatisfaction with interruptions in supplies. The latter is an important factor, but the reason goes deeper.”

The fact that the 13th generation of smartphones is not so different from the previous one to justify a replacement has been repeatedly written by specialized publications. Still, Apple's stock is up 20% since the start of the year, and other analysts say demand for the company's smartphones is solid and outpacing chip-limited supply anyway.