On Tuesday, local time, the media quoted people familiar with the matter as saying that the expected surge in demand could not be realized.$Apple (AAPL.US)$The company abandoned iPhone 14's plan to increase production this year.

Apple Inc has informed the supplier, according to people familiar with the matter.To reduce the production of up to 6 million iPhone 14 series products in the second half of this yearKeep production at 90 million, roughly the same level as last year, in line with Apple Inc's initial forecast this summer.

As of press time, Apple Inc's share price fell more than 4% to US $145.37.

Apple Inc's share price has been on a trading channel with a support level of $148.37, according to Saxo Bank. "however, this support is weak, and it was reported this morning that Apple Inc will cut iPhone production due to slowing demand, giving sellers new energy," technical analyst Kim Cramer Larsson wrote in a report.

Larsson said: "Today's close below that level will confirm the downward trend, and selling pressure is likely to accelerate in the coming weeks. Especially if the closing price of the stock price is below the lower downward trend line in the channel. Selling pressure may push Apple Inc below the support level.However, if there is more bad news as we enter the earnings season, Apple Inc's share price may test a June low of around 129. "

Jonathan Krisky, a technical strategist at BTIG, said falling below $150would make it easy for Apple Inc to return to the $135to $140range. He pointed out that among the top eight stocks in the Nasdaq 100th index, only Apple Inc and$Tesla (TSLA.US)$It has been rising in the past 12 months.

In spite of this, Wedbush Securities analyst Dan Ives still gave Apple Inc an "outperform" rating, with a target price of $220. Ives said that for Wall Street, the "key" is the iPhone 14 Pro. He said iPhone 14 Pro products could account for 85 per cent of total iPhone 14 production, compared with 65 per cent of the iPhone 13 product line.The analyst added that reports of production cuts due to weak demand would "bring nervousness to the market", but that the Pro was a "key" focus on Wall Street.

Second, shortly before the report was released, several other investment analysts stressed that demand for iPhone 14 remained strong.

On Monday, Samik Chatterjee, an analyst with JPMorgan Chase & Co, quoted Wave7's August survey of US sales trends as saying that the market share of iPhone 13 would fall by about 500bp as the market expected iPhone 14 to be released this month. The survey also quoted a source from a national retailer as saying that the new product line is expected to outperform iPhone 13.

Guo Mingyi, an analyst at Tianfeng International Securities, also pointed out recently that Apple Inc has asked Foxconn to switch production lines of iPhone 14 and iPhone 14 Pro models to produce more iPhone 14 Pro.

Last week, Bank of America Corporation said Apple Inc might benefit from American telecom's "seductive" promotions that encourage people to upgrade to the newly released iPhone 14 series.