Since Steve Jobs, the founder of Apple, brought the company to fruition in 1976, Apple has taken the world by storm. Students use Macbooks and Apple desktops in school and many adults use these products every day for work. Nearly every teenager or adult has or wants an Apple product, whether it be a tablet, cell phone, headphones, or a laptop. Every year when Apple comes out with a new model of the iPhone with fun and new features, Apple users run to their nearest Apple store. The success and popularity of Apple has risen exponentially every year–until now. Apple has slowed the production of their new iPhone 14 because of the unexpectedly low demand. 

The main reason for the low demand of the iPhone 14 is the escalating inflation that is currently overtaking many parts of the world. According to YCharts, the inflation rates in the United States have changed from 1.37% in September of the year 2020, to 9.06% in June of 2022. The inflation rates in the United States haven’t risen this high since just a few years before the Great Depression hit America in the 1920’s. Although the rates aren’t quite as high as it was during the Great Depression, this spike is still very significant to Americans all over the country. 

Due to the drastic and constant increase in prices of housing and food, combined with the higher rates of unemployment, people have been unable to afford luxuries such as the new iPhone 14. The people who aren’t deciding to invest in Apple’s latest iPhone 14, whether they cannot afford it or they simply do not want to buy it, aren’t missing out on much. The iPhone 14 is not much different from the iPhone 13. Sadie Moore (10) states that she “personally [does] not see the need for the new iPhone 14…especially with the new update that just came out.”  The newest iPhone is a mere update of the last iPhone. However, according to Apple, the iPhone 14 Pro has a new chip, a brighter display, and a new 48MP main camera. Because of this, the company is seeing more of a demand for the iPhone 14 Pro rather than the iPhone 14. 

Apple is high on the list for the largest and most successful company to ever exist, as it contains the fifth highest amount of revenue in history according to Investopedia. The current increase in prices that people around the world are suffering from will begin to slow, and companies like Apple will have more sales than ever before. Apple is expected to continue its awe-inspiring climb to the top of the list as more models and updates are released to the public in the years to come.