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Shares of iPhone and iPad maker Apple (NASDAQ:AAPL) fell 2.3% in the morning session after a supply-chain report revealed the tech giant instructed suppliers to reduce component orders for its iPhone 18 Pro and iPhone 18 Pro Max by at least 15% for October.
Apple stock fell nearly 2% in pre-market trading following an iPhone 18 order cut report on Friday, October 9.
Analysts at Morningstar said in a recent note that Apple's outlook points to mounting pressure from AI-driven memory inflation, tight chip supply and foreign exchange headwinds.