The latest news sent Apple's stock down 2.2 percent to a value $189.20.
It knocked 2 percent off Apple's shares and send stocks of its suppliers around the world as much as 6 percent lower, weighing on the US and other stock markets.
Apple likely is being more cautious with production orders for the next iPhone models because it was overly optimistic last year, leaving it with excess inventory in the first part of the year, Cordwell said.
Apple may be anxious that its next iPhones won't be as popular as its last. According to the report, Apple is reducing orders from last year's 100 million units worth of parts down to 80 million, a 20 percent decrease.
"Apple is quite conservative in terms of placing new orders for upcoming iPhones this year".
The flying vehicle has arrived
It is now being tested in New Zealand and has been designed as a transportation alternative for cities with heavy traffic. Test flights by first-timers were over water, with the top speed limited to 32kph and the altitude no more than 3m.
Giuliani says Mueller's team is trying to frame Trump
If Trump does not consent to an interview, Mueller will have to decide whether to go forward with a historic grand jury subpoena. Under the US system of checks and balances, Congress can hold presidents accountable by ousting them using impeachment trials.
Lava destroys 600 homes on Hawaii's Big Island - mayor
As the lava marched toward the bay, it vaporized Hawaii's largest freshwater lake, which was hundreds of feet deep in some places. Kilauea is one of five volcanoes on the Big Island and is one of the most active volcanoes in the world, according to the ESA.
That said, the £999 iPhone X was still the best selling smartphone in early 2018.
Despite the media reports that demand for the $1,000 iPhone X has fallen, Apple's market cap has continued to rise and is approaching $1 trillion.
Apple didn't immediately respond to a request for comment.
In any case, Apple is said to be debuting three new all-screen iPhones this fall: an updated 5.8-inch iPhone X; a new 6.5-inch iPhone X Plus; and a new, cheaper 6.1-inch iPhone with Face ID. USA -based suppliers Advanced Micro Devices, Micron Technology Intel, Broadcom Inc and Qualcomm Inc were all down between 1 percent and 3 percent. All three 2018 iPhone models are expected to feature Apple's facial recognition system.
The unit, which includes Apple Music, the App Store and iCloud, posted $9.1 billion in revenue in the second quarter.