Apple Stock Faces 15–20% iPhone 18 Order Cuts as Citi Keeps $365 Target

• Apple (AAPL) stock is in focus after it reportedly cut iPhone 18 Pro and Pro Max component orders by 15–20% as higher prices weighed on demand
• Citi maintained its Buy rating and $365 Apple stock target before the order-cut report, with Services growth and margins in focus
• Samsung’s earnings show the same cost pressures, including rising memory prices, which boosted its chip business while hurting mobile profitability

Apple stock price is back under scrutiny after reports that the company cut component orders for its newest premium iPhones. Higher prices appear to be testing buyers’ appetite for an upgrade, with more product launches expected later this month. Citi still sees upside in the shares, though its latest note came before the order-cut report. Samsung’s earnings show why the cost issue, which includes rising memory prices, helped its chip business while hurting its phone division.

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Apple Stock Faces Questions Over iPhone Demand

Apple has reportedly reduced October component orders for the iPhone 18 Pro and Pro Max by 15–20% against its original plans, according to Nikkei. Higher memory chip costs and handset prices have weighed on iPhone 18 Pro demand.

These reported iPhone production cuts concern components ordered from some suppliers. They do not establish an equivalent decline in retail sales.

The Pro and Pro Max start at $1,199 and $1,299, respectively, each $100 above their predecessors. Apple is yet to confirm this news.

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Samsung Shows Both Sides of the Memory Squeeze

In its second-quarter results, Samsung credited rising memory prices and AI demand with record memory earnings. Meanwhile, its Mobile eXperience and Networks businesses reported a KRW 0.7 trillion operating loss, with elevated component costs hurting earnings.

This split gives Apple’s cost pressures better context. Strong demand for chips can benefit their producers while making phones harder to sell profitably.

The MarketCapOf comparison shows Apple at approximately $5.01 trillion and Samsung at $1.19 trillion, putting Apple’s market capitalization at about 4.21 times Samsung’s. Holding Apple’s share count constant, assigning it Samsung’s displayed market cap produces a hypothetical Apple stock price of roughly $81, against the tool’s $341.27 quote.

The calculation points to company size, and assessing valuation would also require earnings, growth, and business-mix comparisons.

Citi Holds Its Target Ahead of Reported Mac Launches

Citi’s latest Apple rating predates the order-cut report. On October 8, analyst Asiya Merchant reiterated Buy and a $365 target, with Apple Services revenue, App Store trends, and memory-related margin pressure among the areas in focus.

AAPL stock also has another potential catalyst approaching. Bloomberg reports announcements around October 27, including an M6 MacBook Pro and M6 iMac. For investors, the question is whether those launches can sustain demand without further pressure on profitability.

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