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Aug. 11, 2022, 5:11 p.m. EDT

Apple asks suppliers to make at least as many new iPhones as they did last year: report

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By Emily Bary

Apple Inc. /zigman2/quotes/202934861/composite AAPL -3.00% is requesting that its suppliers "build at least as many" of the company's new iPhones as they did last year, Bloomberg News reported Thursday . The report said that Apple also continues to expect suppliers to build about 220 million total iPhones for the year, which is roughly equal to last year's figure as well. Bloomberg noted that the report suggested confidence on the part of Apple executives that the company would be able to withstand economic challenges and still drive strong demand for its devices. Apple didn't immediately respond to MarketWatch's request for comment on its build requests. Chief Executive Tim Cook indicated on Apple's June-quarter earnings call that the smartphone giant had yet to see "obvious evidence of macroeconomic impact," outside of negative effects related to currency movements. In contrast, he noted that the company did seem to be experiencing some macroeconomic pressure on the wearables, home, and accessories category. The Bloomberg report came out several minutes before Thursday's closing bell. Apple shares fell 0.4% in Thursday's regular session but were up 0.2% in after-hours trading. They've gained 15% over the past three months as the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.71% has increased 4.7%.

/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 138.20
-4.28 -3.00%
Volume: 124.93M
Sept. 30, 2022 4:00p
P/E Ratio
22.84
Dividend Yield
0.67%
Market Cap
$2289.76 billion
Rev. per Employee
$2.52M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
28,725.51
-500.10 -1.71%
Volume: 320.97M
Sept. 30, 2022 5:55p
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