Apple is slipping after reports of iPhone 8 production cuts (AAPL)

Ken Copeland
October 20, 2017

This week leading USA consumer Group Consumer Report in another blow to Apple's pride, said that the old Galaxy 7 from Samsung was superior to the new iPhone 8.

Such a severe production cut less than two months into the iPhone 8 cycle is unlikely, given Apple's typically conservative production planning, but not impossible.

There is also no certainty that the $1,856 iPhone X, which goes on sale November 8, and features an all-new design with an edge-to-edge OLED screen and revolutionary facial recognition technology will be the success that Apple anticipated.

Daniel Ives, chief strategy officer at GBH, predicts only 20 to 25 percent of iPhones sold over the next 12 to 18 months will be an iPhone 8 or iPhone 8 Plus, according to Reuters.

It also pointed to KeyBanc Capital Markets analyst John Vinh, who reported earlier this week that a carrier store survey suggested the iPhone 7 was still outselling the iPhone 8. The anticipation of the more advanced iPhone X would have caused the low iPhone 8 sales after the opening weekend.

Plus, the shadow of the looming iPhone X appears to be tamping down interest in the iPhone 8.

"While carriers continue to offer promotions for the new iPhone 8, they have been much more modest compared with those for the iPhone 7 launch past year", he wrote.

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Now there are reports that the company has cut iPhone 8 production by as much as 50 percent. "iPhone X establishes a new value level for Apple customers that want a premium, futuristic device".

Cramer said on " Squawk on the Street " that news about supply concerns or iPhone orders has plagued Apple investors "since the beginning of time".

The Apple iPhone X has a lot to offer but the one thing that everybody is looking forward to seeing is the new facial recognition system that would be exclusively offered on the new Apple iPhone X this year.

While the iPhone 8's struggles aren't great for Apple (or for its stockholders, at the moment), there's still a few reasons to hold off on calling for the device to go to an early grave.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, August 1st.

There's a good chance that next year's iPhone X will, once again, start at $999, and that the larger-screen iPhone X that's said to be coming will begin at an even higher price point.

Other reports by Guamnewswatch

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