Morgan Stanley has backed reports that Apple cut component orders for the iPhone 18 Pro lineup by at least 15%, adding further weight to signs of softer-than-expected demand for the company’s latest flagship models.
The investment bank backed the reported reduction in comments discussed by CNBC, following an earlier supply-chain report that Apple had lowered October component orders for the iPhone 18 Pro and iPhone 18 Pro Max.
The Apple Post reported on the cuts on Friday, with Nikkei sources saying October orders had been reduced by at least 15% from Apple’s original plans and one source putting the reduction at between 15% and 20%.
Morgan Stanley’s backing is significant because it provides a separate Wall Street assessment of the supply-chain picture that emerged this week, rather than another supplier-level claim.
The reported cuts have already drawn attention from investors. Apple shares fell after the initial report emerged, as the market weighed what lower component orders could mean for demand for Apple’s premium iPhones.
Component orders are not the same as final iPhone sales, but multiple indications of a reduction make Apple’s near-term production plans for the iPhone 18 Pro and iPhone 18 Pro Max an increasingly important signal to watch.
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