'Anaemic' iPhone 8 demand drags Apple lower

Signs of poor demand for the iPhone 8 fuelled more market questions over Apple's double 2017 iPhone release strategy.

(REUTERS) - Signs of poor demand for the iPhone 8 sent Apple's stock lower on Thursday.

Canada's largest mobile network Rogers Communication said appetite for the product has been "anaemic".

Verizon also admitted that the number of upgrades in the third quarter was lower than in previous years.

A newspaper in Taiwan reported Apple has cut production orders on iPhone 8 by more than 50 per cent for the rest of the year.

A number of sector analysts played down the concerns.

"You might see a pull-back in Apple. I don't think it's going to be long term. The only thing that would cause Apple to really get hammered is if the glitches don't get fixed. If the demand for the iPhone 8 really does slow down a lot more than people are anticipating.

"I know there was a glitch with the software updates and most likely, they'll figure it out. You could see a small pull-back just in the markets in general and that could cause Apple to pull back but today I couldn't find anything that wouldn't give us any reason to panic yet." said Michael Bapis, Partner, Bapis Group 

Apple released iPhone 8 and iPhone 8 Plus in September. Its new iPhone X is coming out in early November.