Apple (NASDAQ: AAPL) may curb its production of new iPhones this year, after a muted demand, Bloomberg reported on Wednesday.
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.
