Trending: Apple Sees Weakening Demand

apple (AAPL) saw a 31% increase in traffic over the past two weeks, the highest rate ever. Apple has reportedly asked suppliers to reduce production of parts for iPhones and other gadgets, citing weak demand, making news.

The global economy is slowing as rising interest rates and rising energy prices strain household budgets. Lower demand for products like new iPhones, MacBooks and AirPods is the result.

China’s chaotic management adds to slowing demand COVIDThe -19 pandemic put pressure on production. Combined with deteriorating trade ties with the US and other developed countries, this has forced Apple to move its supply chain away from China, but that will take time.

Despite the immediate challenges, Apple’s stock has outperformed the broader tech sector as the company’s high profitability and product obsession convinced investors. Over the past 12 months, Apple’s stock has fallen 24% to Nasdaq’s 28%.

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