Market News / Story
Key facts: Apple Inc. cuts iPhone 18 Pro orders; Q3 $109.4B; Ives $400
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Apple told suppliers to cut component production and trim iPhone 18 Pro and Pro Max orders after reports of weak demand, affecting supply plans for upcoming Pro models. Apple (AAPL) Q3 revenue $109.4B, +16% YoY. Reported gross margin 50.1% including ~2ppt tariff refunds; adjusted margin ~48.1%. Stock trading ~16.9% above GF Value, ~39x trailing EPS. Analyst Dan Ives keeps Outperform and $400 target on Apple (AAPL), citing AI-driven upgrade potential and subscription…