According to Friedman Billings Ramsey analyst Craig Berger, Apple has made deep cuts Q4 iPhone production plans by "as much as 40%", far more than originally estimated.
Berger believes that this is a sign of "global macroecomomic weakness:"
That the firm's iPhone production plans are being revised lower suggests that the global macroecomomic weakness is impacting even high-end consumers, those that are more likely to buy Apple's expensive gadgets, and that no market segment will be spared in this global downturn. This is a negative signal for global demand, in our view.
Hmmm ... I'm reluctant to make the call that the iPhone is in trouble? Why? Because there could be other factors at play here. For example:
... or this could be a sign that Apple isn't immune to the negative effects of the choppy financial seas companies are having to sail and is battening down the hatches to weather a coming storm.