A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
The tech giant told its suppliers in December to produce fewer new iPhones than what was initially planned for the March quarter, the Nikkei said, citing sources with knowledge of Apple's request.
It would be the second time in two months that Apple trimmed its planned production for its smartphones, according to the Nikkei, which added that the newest revision applies to all new iPhone models — the XS Max, XS and XR.
Under the revised proposal, the overall planned production volume for new and old iPhones will be reduced to about 40 million to 43 million units for the March quarter — down from an earlier prediction of 47 million to 48 million units, the Nikkei said citing a source familiar with the situation.
Apple did not immediately respond to CNBC's email request for comments.
Last week, Apple slashed its guidance on revenue, partly blaming the revision on a weakening economy in China and lower-than-expected iPhone revenue in the Greater China region. The move roiled markets as investors worried about a slowdown in the world's second-largest economy amid Beijing's ongoing trade fight with Washington.
Analysts said that many Apple suppliers had been telegraphing the issue of weak iPhone demand since last year.
Apple, along with its rivals including Samsung, finds itself in a highly saturated smartphone market where growth is falling. According to the International Data Corporation, global smartphone shipments fell 6 percent in the third-quarter of 2018 — that was the fourth consecutive quarter of year-over-year declines, which raised concerns about the market's future.
Some analysts have said that smartphones from various companies have become so similar in their features and functionality that customers no longer see tangible differences. The devices are also not as innovative as they used to be.