Apple Cuts iPhone 18 Pro Orders, SpaceX Eyes $8B Spectrum Deal

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Summary · why it matters

Apple has asked some suppliers to reduce component production for its iPhone 18 Pro and Pro Max models, with October component orders cut by at least 15% from initial requests and demand for both premium models reportedly down 15%-20%, according to Nikkei Asia. Higher memory chip costs and resulting price increases have weighed on consumer demand, potentially affecting suppliers including Taiwan Semiconductor Manufacturing, Qualcomm, and Broadcom. Separately, SpaceX is set to acquire a portfolio of low-band wireless spectrum licenses from private-equity firm Grain Management for approximately $8B in cash, The Wall Street Journal reported, in a deal covering up to 14 megahertz of paired spectrum in the 800 MHz band; shares of T-Mobile, Verizon, and AT&T fell about 6% in after-hours trading as investors assessed the competitive implications. Nvidia-backed Firmus Grid is discussing a private funding round of $2B-$3B after dropping plans for a roughly $5B IPO that would have valued the Australian data center company at $30B, Bloomberg reported, with Nvidia possibly participating. India criticized the Trump administration's suspension of the Permanent Labor Certification program, saying the decision conflicts with the shared ambitions of the two countries, after the U.S. suspended multiple companies from using the system as Vice President JD Vance called for technology companies to hire more American workers and alleged widespread fraud in the H-1B visa program. President Donald Trump purchased between $1M and $5M in SpaceX bonds on August 18, according to a financial disclosure released Thursday; the senior unsecured notes carry a 5.35% interest rate and mature in July 2031, and two days later Trump signed a national space transportation policy aimed at facilitating more than 1,000 U.S. launches and reentries annually by 2030.

Impact on assets 11

Artificial Intelligence▼
Apple Inc.
AAPL
▼ NegativeDemandrelevance

Apple cut iPhone 18 Pro component orders by at least 15% as premium model demand fell 15%-20%.

Broadcom Inc
AVGO
▼ NegativeDemandrelevance

Named as a supplier potentially affected by Apple's reduced iPhone 18 Pro component production.

Cloud & Digital Infrastructure▼
T-Mobile US Inc
TMUS
▼ NegativeCompetitionrelevance

SpaceX's ~$8B acquisition of low-band 800 MHz spectrum from Grain Management raises competitive pressure on T-Mobile, whose shares fell about 6% after-hours.

Verizon Communications Inc
VZ
▼ NegativeCompetitionrelevance

SpaceX's ~$8B acquisition of low-band 800 MHz spectrum from Grain Management raises competitive pressure on Verizon, whose shares fell about 6% after-hours.

AT&T Inc.
T
▼ NegativeCompetitionrelevance

AT&T shares fell about 6% as investors assessed competitive implications of SpaceX's spectrum deal.

Semiconductors▼
Qualcomm Incorporated
QCOM
▼ NegativeDemandrelevance

Named as a supplier potentially affected by Apple's reduced iPhone 18 Pro component production.

Space Economy▲

Off-coverage companies 2

Firmus Gridi
Private▲ PositiveCapitalrelevance

Nvidia-backed Firmus Grid is discussing a $2B-$3B private funding round after dropping its ~$5B IPO plans, with Nvidia possibly participating.

Grain Managementi
Private▲ PositiveCapitalrelevance

Grain Management is set to sell a portfolio of low-band wireless spectrum licenses to SpaceX for approximately $8B in cash.