Story perspectives

Apple cuts iPhone 18 Pro orders by 15%

By Drooid · Oct 10, 2026, 2:53 PM UTC · How we work

Summary

Apple Cuts Component Orders

Apple cut October component orders for the iPhone 18 Pro and Pro Max by at least 15%.
The iPhone 18 Pro starts at $1,199 and Pro Max at $1,299, $100 above prior models, dampening demand.
Apple shares fell about 1.6% in pre-market trading, dropping to $334.89 after the report.
Rising memory-chip costs driven by AI data-center demand forced Apple to raise component prices.

Summary

Morgan Stanley Lowers Target

Morgan Stanley lowered its price target for Apple to $355 from $360 while maintaining an Overweight rating.
Needham Research kept a Hold recommendation on Apple, citing intensified competition from AI-focused rivals.
Apple’s stock trades above its 50-, 100- and 200-day moving averages, indicating bullish momentum.
An Evening Doji Star candlestick formed on September 23, a bearish pattern that could signal downside risk.

History

Historical Context

In 2010 the iPhone 4 launch triggered record demand—over 600,000 pre-orders in 24 hours—and exposed tight component supplies, prompting Apple to secure long-term DRAM deals and rely on partners such as Samsung and TSMC. Decades later, 2025-26 chip-price spikes have forced Apple to cut iPhone 18 Pro orders, prompting Morgan Stanley and Needham Research to lower forecasts.

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Apple Cuts Component Orders

Apple cut October component orders for the iPhone 18 Pro and Pro Max by at least 15%.
The iPhone 18 Pro starts at $1,199 and Pro Max at $1,299, $100 above prior models, dampening demand.
Apple shares fell about 1.6% in pre-market trading, dropping to $334.89 after the report.
Rising memory-chip costs driven by AI data-center demand forced Apple to raise component prices.

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