Apple falls on fears of slowing iPhone 14 demand

FILE PHOTO: Logo of an Apple store is in Washington, U.S., January 27, 2022. REUTERS/Joshua Roberts/File Photo/File Photo

(Reuters) -Apple Inc shares fell more than 4% on Wednesday after a report that the tech giant was ditching its plans to boost production of the latest iPhone fueled demand worries.

Bloomberg earlier reported that Apple had told its suppliers to curtail efforts to increase the assembly of its iPhone 14 lineup by as many as 6 million units in the second half of the year on disappointing demand.