Apple (NASDAQ: AAPL) may curb its production of new iPhones this year, after a muted demand, Bloomberg reported on Wednesday.
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The report cited unknown sources as saying that the tech giant has told suppliers to curb the assembly of the iPhone 14 product family by around 6 million units in the latter half of this year.
Apple aims to produce 90 million handsets this year, around the same level as last year, Bloomberg reported.
Is Apple a Buy or Sell?
Apple continues to remain a Buy as Wall Street analysts are bullish about the stock with a Strong Buy consensus rating based on 23 Buys, four Holds, and one Sell.
The average price forecast for AAPL stock is $183.45 implying an upside potential of 20.8% at current levels.
