Apple Reportedly Cutting iPhone Production | KCBS 740AM | 106.9 FM

While Cook suggested that pricing isn't an issue, Apple today offered Chinese vendors a price cut for all 2017 and 2018 iPhone models in an attempt to counter the declining sales.

Apple has asked reportedly its suppliers to manufacture fewer iPhones than planned for January to March, affecting both older iPhone models and the firm's flagship iPhone XS, XS Max, and XR models.

Apple decided previous year to halt reporting on sales numbers of its iPhone and other hardware units, causing concern for investors who feared there may be a slowdown in demand for premium Apple products. The Digitimes report of the day noted that "the slower-than-expected sales of iPhone 8 and iPhone 8 Plus have dragged down the momentum for the iPhone X".

The Nikkei said Apple could not be reached for comment on the information.

While Apple's stock has suffered lately from a string of news that has disturbed investor confidence, Sculley said the public does not always get a glimpse at the "big" plans that a company's officers are discussing behind closed doors.

Market research firm Canalys estimates shipments fell 12 percent in China past year and expects smartphone shipments in 2019 to dip another 3 percent, to below 400 million for the first time since 2014. That's a sharp decline from the 52.2 million it reported selling in 2018's March quarter. Winslow Evans & Crocker Inc.'s holdings in Apple were worth $9,244,000 at the end of the most recent quarter.

The news followed warnings by suppliers such as Samsung Electronics Co Ltd and Skyworks Solutions Inc about weak Q1 demand for smart phone chips.

Cook gives the Interview in a time in which the exchanges respond emotionally to Apple and falling prices. And to make matters worse, it seems that Apple could soon transfer much of its production to Pegatron, another famous assembler, in the hope of avoiding further bans on sales, in addition to the bans already received in China and Germany.

Apple's Chief Executive Officer Tim Cook told CNBC on Tuesday that "naysayers on Wall Street were under-appreciating the Company's growing ecosystem of devices and services".

Vanessa Coleman