On October 9, ahead of the U.S. stock market open, memory chip stocks broadly advanced, with Micron Technology (MU), SanDisk, and SK Hynix all rising more than 2%. Intel (INTC) gained nearly 2%, Advanced Micro Devices (AMD) climbed 1.7%, and Seagate Technology PLC (STX) added 1.51%.

Among the "Magnificent Seven" tech giants, NVIDIA (NVDA), Tesla Motors (TSLA), Meta Platforms, Inc. (META), Microsoft (MSFT), Alphabet (GOOGL), and Amazon.com (AMZN) all traded higher in pre-market, while Apple (AAPL) declined. Reports indicate that Apple has cut orders for the iPhone 18 Pro due to weak demand.

Multiple sources familiar with the matter revealed that sharply rising memory chip costs have forced Apple to raise prices, dampening consumer demand. Apple has asked some suppliers to reduce component production for the newly released iPhone 18 Pro and iPhone 18 Pro Max. Two of these people said Apple's component orders this month were cut by at least 15% from initial requests. One company executive stated, "In October alone, we saw Apple reduce orders for these two high-end models by 15% to 20%." Another source suggested this may be related to Apple adjusting its iPhone release schedule.

This year, Apple prioritized the launch of three high-end models, while the standard iPhone 18 and the new-generation iPhone Air are scheduled for release next spring. A supply chain manager noted, "We indeed found that demand for products in the second half of this year has been weaker than in previous years since August. In the past, all new models were typically launched simultaneously. This year, the standard iPhone 18, which could drive sales growth, won't need components until around the end of the year for an early 2027 launch."

Additionally, Chinese ADRs surged in pre-market trading, with Li Auto (LI) up 4.4%, Bilibili Inc. (BILI) up more than 3%, NetEase (NTES) and Alibaba (BABA) up over 2%, and Trip.com Group Limited (TCOM) up nearly 2%.