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Credit Suisse: Apple cutting iPhone production orders 10%

Apple may be in a spot of trouble, at least in the short term, Credit Suisse said Tuesday.

The Swiss bank said in a note the tech giant has cut as much as 10 percent of its component orders. "The cuts seem to be driven by weak demand for the new iPhone 6S, as overall builds are now estimated to be below 80 million units for the December quarter and between 55 million-60 million units for the March quarter," the bank said.

Credit Suisse also lowered its iPhone estimates for 2016 to 222 million from 242 million. It estimated a 6 percent year-over-year growth rate in 2017. "We believe such adjustments reflect a more subdued launch around the iPhone 6S/6S Plus in terms of uptake."

However, the bank is not recommending...


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