Apple shares fell on Tuesday after reports that it may cut production targets for its iPhone 13 as global chip shortages persist.


The electronics giant expects to ship 90 million iPhones in the last quarter of 2021, Bloomberg reports. However, Apple now has to tell its partners that the total will be less than 10 million units, according to a source told Business Magazine.

Apple shares fell 1.2 percent. Broadcom and Texas Instruments semiconductor plants also fell 1 percent, as sources said they were trying to deliver enough chips to Apple on time.

In September, Apple released four iPhone 13 models, including the iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max. Pre-orders start on September 17 and shipping starts on September 24.