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"Anemic" iPhone 8 demand drags Apple lower

Thursday, October 19, 2017 - 01:08

Signs of poor demand for the iPhone 8 fuelled more market questions over Apple's double 2017 iPhone release strategy. Fred Katayama reports.

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Signs of poor demand for the iPhone 8 sent Apple's stock lower on Thursday. Canada's largest mobile network Rogers Communication said appetite for the product has been "anemic." Verizon also admitted that the number of upgrades in the third quarter was lower than in previous years. A newspaper in Taiwan reported Apple has cut production orders on iPhone 8 by more than 50 percent for the rest of the year. A number of sector analysts played down the concerns. Michael Bapis of Bapis Group at HighTower: (SOUNDBITE) MICHAEL BAPIS, PARTNER, BAPIS GROUP AT HIGHTOWER, (ENGLISH) SAYING: "You might see a pullback in Apple. I don't think it's going to be long term. The only thing that would cause Apple to really get hammered is if the glitches don't get fixed. If the demand for the iPhone 8 really does slow down a lot more than people are anticipating. I know there was a glitch with the software updates and, most likely, they'll figure it out. You could see a small pullback just in the markets in general and that could cause Apple to pull back, but today I couldn't find anything that wouldn't give us any reason to panic yet." Apple released iPhone 8 and iPhone 8 Plus in September. Its new iPhone X is coming out in early November.

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"Anemic" iPhone 8 demand drags Apple lower

Thursday, October 19, 2017 - 01:08