Cramer: Investors selling Apple on latest iPhone 18 report are 'stupid as plywood'

Apple has reportedly reduced its production orders for the upcoming iPhone 18 Pro and iPhone 18 Pro Max, citing weaker demand in a tough economic climate, according to Nikkei Asia. The cuts, which could see orders decrease by 15% to 20% for the premium models, are attributed to higher memory-chip costs driven by the AI boom, leaving less supply for phone manufacturers.

Apple's pricing for the new iPhones starts at $1,199 for the Pro model and $1,299 for the Pro Max, both $100 more than their predecessors. The reduced orders come as Apple's CEO John Ternus takes over from Tim Cook, marking the first flagship launch under his leadership. While Apple has not confirmed the reductions, the cuts raise questions about consumers' willingness to pay for high-end smartphones amid a global component shortage.

The reported production cuts may reflect a temporary adjustment rather than a broader pullback in consumer demand for premium devices.