Weak Apple projections hint at global slump

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Alarm is rising over a global slowdown that's testing even Apple's invincibility, said Vlad Savov in Bloomberg. In September, Apple was so bullish about its sales projections for the new iPhone 14 that it told suppliers to bump production by roughly 7 percent. A few weeks later, "those plans for the new devices have been iced." "Of course, the iPhone being the iPhone, we're not talking catastrophe here," and Apple is still planning to build 90 million handsets, in line with last year. But Apple is "famously judicious and precise with its product planning," and "to see it veer so quickly from increasing production to throttling back down" is a shock. If Apple is struggling to gauge consumer sentiment, that doesn't bode well for other companies.

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