I wanted to make a compilation of all the bad news surrounding Apple ahead of earnings on the 27th.
https://www.forbes.com/sites/gordonkelly/2022/10/05/apple-iphone-14-pro-max-used-price-resale-value/amp/
Tldr : used phone retailer SellCell says that price of IPhone 14 resale has dropped by 50%, meaning people don’t want to hold on to their phones and want to get rid of it at a lower price.
https://appleinsider.com/articles/22/10/25/apple-iphone-glass-maker-corning-says-smartphone-sales-are-plummeting/amp/
Corning, maker of Gorilla glass for iPhone and iPad says it expects 14% year-over-year decrease in smartphone sales volume and a 17% drop in orders for tablets and laptops. They make other smartphones too but the bulk of their revenue comes from Apple, I think.
https://www.notebookcheck.net/Disappointing-iPhone-14-14-Plus-sales-allegedly-prompt-Foxconn-to-cut-production-in-favor-of-the-iPhone-14-Pro-14-Pro-Max.658335.0.html
IPhone 14 and and iPhone 14 Max are selling comparatively worse than the Pro models. But since pro models account for less sales since they are 100 to 200$ more, overall sales are down.
https://9to5mac.com/2022/10/18/iphone-14-plus-demand/amp/
https://www.theinformation.com/articles/apple-cuts-iphone-14-plus-production-less-than-two-weeks-after-debut
Apple has asked at least assembler to “immediately halt [iPhone 14 Plus] production.” as they “reassess” Also 2 Apple suppliers in China that rely on the parts and assemble them into larger modules are also cutting their production 70% and 90% respectively
According to Wayne MA’s source, these changes are due to demand. Also, he confirms that the Pro and Pro max sales are insignificant compared to the Non-pro devices.
Another worry is on the wearable of Apple, who are considered the most discretionary as they are usually seen as gifts for others. With inflation this high, people are very likely to cut costs and impact yet another lucrative revenue stream for Apple.
Is it finally time for the Apple to fall ? Michael Burry sure thinks so.
