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The value of shares in Apple dropped on Tuesday following reports that the company has slashed production numbers of its new iPhone 13.

Apple is going to make 10 million fewer devices than it had initially planned, reported Bloomberg News, due to the ongoing global shortage of computer chips.

The expected impact on the company’s business caused Apple’s share price to go down by 1.2% in after-hours trading.

Customers queue to buy the new Apple iPhone 13 outside the tech giant's flagship store in Regent Street, central London.
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Apple has reportedly slashed production of the iPhone 13, which launched to long queues in London in September. Pic: PA

It comes as a global shortage of semiconductors impacts all industries that need computing power to run, from car manufacturers through to games consoles and mobile phones.

Earlier this year, Apple’s chief executive Tim Cook warned that the company had been using a buffer stock of semiconductors to meet demand.

Mr Cook said Apple anticipated sales of iPads and Macs would be $3bn to $4bn lower in its third quarter than would be the case without supply issues.

The company launched its new iPhone 13 range in September and is set to hold another special event next week, in which it is expected to announce new Macs and MacBooks.

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The iPhone 13 has a new look, with diagonally-aligned cameras on the rear and what Apple says is a 20% smaller notch in the front.

But the launch was muted compared to the events in 2020, when Apple held three separate launches for a range of products using the company’s own chips.

People line in front of Apple Store in Osaka City, Osaka Prefecture on Sep. 24, 2021.  
PIC:AP
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People line in front of Apple Store in Osaka City, Japan, on launch day. Pic: AP

While these chips are not something that Apple has to compete with other industries for, older “legacy node” technology used to manage battery life and other elements of the phone was a supply issue.

“Most of our issue is on licensing those legacy nodes, there are many different people not only in the same industry, but across other industries that are using legacy nodes,” explained Mr Cook.

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Day 77: Q&A – Trump’s tariffs, Putin’s Arctic, and penguins

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Day 77: Q&A - Trump's tariffs, Putin's Arctic, and penguins

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On Day 77, US correspondents Mark Stone and David Blevins answer your questions on everything from Trump’s “Liberation Day” tariffs and their impact on American consumers, to Trump’s relationship with Putin and if they have plans for the Arctic, and penguins.

If you’ve got a question you’d like Mark, Martha, and James to answer, you can email it to trump100@sky.uk.

Don’t forget, you can also watch all episodes on our YouTube channel.

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Thousands protest against Donald Trump and Elon Musk at rallies in all 50 US states

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Thousands protest against Donald Trump and Elon Musk at rallies in all 50 US states

Thousands of people gathered in various cities across the US as protests against Donald Trump and Elon Musk took place in all 50 states on Saturday.

Around 1,200 demonstrations were planned in locations including Washington DC, New York City and West Palm Beach, Florida – just miles away from where the US president has this weekend played golf.

The “Hands Off!” protests were against the Trump administration’s handling of government downsizing, human rights and the economy, among other issues.

In Washington DC, protesters streamed on the grass in front of the Washington Monument, where one person carried a banner which read: “Make democracy great again.”

Demonstrators hold up their banners during a 'Hands Off!' protests protest against President Donald Trump at the Washington Monument in Washington, Saturday, April 5, 2025. (AP Photo/Jose Luis Magana)
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Thousands gathered in Washington DC to rally against various Trump policies. Pic: AP

A demonstrator twirls a ribbon during a "Hands Off!" protest against President Donald Trump at the Washington Monument in Washington, Saturday, April 5, 2025. (AP Photo/Jose Luis Magana)
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Pic: AP

Another protester took aim at Mr Trump‘s handling of Russia and Ukraine, with a placard that read: “Stop Putin’s puppets from destroying America.”

Tesla boss Mr Musk also featured on many signs due to his role in controversial government cuts as head of the newly created Department of Government Efficiency (DOGE).

Demonstrators march during a "Hands Off!" protest against President Donald Trump on Saturday, April 5, 2025, in New York. (AP Photo/Andres Kudacki)
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Demonstrators in NYC. Pic: AP

People take part in the nationwide anti-Trump “Hands Off” protest in Atlanta, Georgia U.S., April 5, 2025. REUTERS/ Megan Varner
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People marching in Atlanta, Georgia. Pic: Reuters

Hundreds of people show up to protest President Donald Trump at Centre Congregational Church in Brattleboro, Vt., during a national "Hands Off" protest on Saturday, April 5, 2025. (Kristopher Radder/The Brattleboro Reformer via AP)
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A rally in Vermont. Pic: The Brattleboro Reformer via AP

Terry Klein, a retired biomedical scientist, said she drove to the rally to protest Mr Trump’s policies on “everything from immigration to the DOGE stuff to the tariffs this week, to education”.

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“I mean, our whole country is under attack, all of our institutions, all the things that make America what it is,” she added.

A drone view shows a protest at the Utah State Capitol building in a demonstration that is part of larger "Hands off" events organized nationwide against U.S. President Donald Trump, in Salt Lake City, Utah, U.S., April 5, 2025. REUTERS/Jim Urquhart
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A drone view of the protest at the Utah State Capitol building. Pic Reuters

People participate in a protest at the Utah State Capitol building in a demonstration that is part of larger "Hands off" events organized nationwide against U.S. President Donald Trump, in Salt Lake City, Utah, U.S., April 5, 2025. REUTERS/Jim Urquhart
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A protester sports a Handmaid’s Tale costume. Pic: Reuters

People participate in a protest at the Utah State Capitol building in a demonstration that is part of larger "Hands off" events organized nationwide against U.S. President Donald Trump, in Salt Lake City, Utah, U.S., April 5, 2025. REUTERS/Jim Urquhart
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Pic: Reuters

Some at the various protests carried Ukrainian flags, while others sported rainbow attire and waved rainbow flags in support of the LGBTQ+ community.

Other protesters wore Palestinian keffiyeh scarves and carried “Free Palestine” signs.

Protesters refuse to take Donald Trump’s policies lying down

It was built to honour George Washington, a founding father of the United States.

And in the shadow of the 555ft Washington Monument, protestors were refusing to accept Donald Trump’s policies lying down.

“Stand tall,” they chanted, again and again.

“In every city, stand tall. In every state, stand tall. In truth, stand tall. In justice, stand tall.”

Those words, shouted by thousands on the city’s iconic mall, were reinforced by the words on their placards and t-shirts.

A minister, wearing a t-shirt with ‘Troublesome Priest’ printed on it, told me she found what was happening in the US government “appalling and immortal”.

One man said he had won the long-distance award, having travelled 2,750 miles from Hawaii for the protest.

“I finally reached a breaking point,” he added. “I couldn’t take it anymore.”

Another woman said: “We have to speak up, we have to act, we have to do something, because this is not America.”

I asked her what she would say to those who argue the people did speak when they elected Donald Trump as president.

She replied: “Some people have spoken and then some people have not and those of us that have not, we need to speak now.”

Thousands marched in New York City’s midtown Manhattan and in Boston, Massachusetts, while hundreds gathered in the sunshine outside the Utah State Capitol building in Salt Lake City, and in the rain outside the Statehouse in Columbus, Ohio.

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Mr Trump – who shook financial markets with his tariffs announcement this week – spent the day in Florida, playing a round of golf before returning to his Mar-a-Lago residence.

People protest in Manhattan, during a demonstration that is part of larger “Hands Off!” events organized nationwide against U.S. President Donald Trump, in New York City, New York, U.S., April 5, 2025. REUTERS/Caitlin Ochs
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People protest in Manhattan. Pic: Reuters

Activists protest President Donald Trump, who was a few miles away at his Trump National Golf Club, during a "Hands Off!" demonstration Saturday, April 5, 2025, in Palm Beach Gardens, Fla. (AP Photo/Alex Brandon)
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Activists in Palm Beach Gardens, Florida. Pic: AP

Some four miles from Mar-a-Lago, more than 400 people gathered – and drivers honked their horns in support of protesters who held up signs including one which read: “Markets tank, Trump golfs.”

The White House has said Mr Trump plans to go golfing again on Sunday.

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Financial markets were always going to respond to Trump tariffs but they’re also battling with another problem

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Financial markets were always going to respond to Trump tariffs but they're also battling with another problem

Global financial markets gave a clear vote of no-confidence in President Trump’s economic policy.

The damage it will do is obvious: costs for companies will rise, hitting their earnings.

The consequences will ripple throughout the global economy, with economists now raising their expectations for a recession, not only in the US, but across the world.

Tariffs latest: FTSE 100 suffers biggest daily drop since COVID

Financial investors had been gradually re-calibrating their expectations of Donald Trump over the past few months.

Hopes that his actions may not match his rhetoric were dashed on Wednesday as he imposed sweeping tariffs on the US’ trading partners, ratcheting up protectionism to a level not seen in more than a century.

Markets were always going to respond to that but they are also battling with another problem: the lack of certainty when it comes to Trump.

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He is a capricious figure and we can only guess his next move. Will he row back? How far is he willing to negotiate and offer concessions?

Read more:
There were no winners from Trump’s tariff gameshow
Trade war sparks ‘$2.2trn’ global market sell-off

These are massive unknowns, which are piled on to uncertainty about how countries will respond.

China has already retaliated and Europe has indicated it will go further.

That will compound the problems for the global economy and undoubtedly send shivers through the markets.

Much is yet to be determined, but if there’s one thing markets hate, it’s uncertainty.

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