And this week, investors got more evidence of the demand slowdown when Apple told its suppliers to make fewer components for key products including Macs, iPads, and AirPods, Nikkei Asia first reported, citing sources at tech component suppliers.

Apple did not immediately respond to Fortunes request for comment about any slowdown.

Wedbush tech analyst Dan Ives, who has long been an Apple bull, said in a Wednesday note that Apples production slowdown reflects a softer consumer backdrop and that demand concerns are now a clear overhang for the stock. And CFRA Researchs tech analyst Angelo Zino said in a Tuesday note that he wasnt shocked by the news that Apple was slowing its ordering of components as the company is facing a more challenging environment.

But despite demand issues and a potential recession, both Ives and Zino remain bullish on Apples long-term prospects, arguing that the companys cash flows remain steady, it has a management team that rarely makes mistakes, and offers growth potential in key areas like augmented reality.

While tech stocks remain enemy #1 on the Street due to rising interest rates that make investing for future growth more costly, Ives still believes Apple is a winning long-term investmentas do many Wall Street analysts. 

Still bullish

Apples average 12-month price target on the Street is just over $176, representing a potential upside of nearly 40%, according to data from TipRanks. But concerns about the global economy have led many analysts to cut their price targets for Apples shares in recent weeks.

Even Ives slashed his price target from $200 per share to $175 on Wednesday, citing an uncertain environment that has caused demand headwinds. 

The tech bull said that Apple may be forced to cut its iPhone orders over the next few quarters, but he still believes the company remains a Rock of Gibraltar name for investors and the latest slowdown in demand is merely a short-term issue.

Apple remains our favorite tech name and we maintain our outperform rating, he wrote.

Apples demand problem is a relatively new development. Just months ago, lockdowns at key factories in China of Apples biggest iPhone supplier, Foxconn, led to production issues, leaving the company millions of iPhones less than what it needed for customers.

Ives noted that Apple was unable to meet demand for between 8 million and 10 million iPhones in the December quarter due to these shutdowns and other supply chain issues, and argued those sales will likely shift to 2023. 

 We believe the overall demand environment is more resilient than the Street is anticipating and thus we believe baked into the stock is a massive amount of bad news ahead, he wrote. 

Zino also noted that Apple has historically cut its hardware purchases after the holidays, so the latest ordering slowdown may be more seasonal in nature.

He added that COVID supply constraints have been largely addressed, but Apples stock may still have further to fall in the near-term as earnings estimates will likely need to be revised lower in the first quarter due to the weakening economy.  

Still, Zino believes Apples shares will be at $165 by the end of the yeara roughly 30% jump from Wednesdays levels. He notes that the company produces over $100 billion in free annual cash flowor cash available to pay creditors, dividends, and interestthat gives it a stable income to weather any potential recession.

Investors should embrace this opportunity, he wrote.

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The number of available positions ticked down to 10.46 million from 10.51 million a month earlier, the Labor Departments Job Openings and Labor Turnover Survey, or JOLTS, showed Wednesday. The figure was higher than all estimates in a Bloomberg survey of economists.

The figures point to a still-tight jobs market where employers demand for workers far outstrips supply. Hiring, while moderating, remains solid and layoffs low. The persistent imbalance continues to put upward pressure on wages and has been highlighted by Fed Chair Jerome Powell as key to the path of inflation.

The elevated number of openings paired with consistently robust payroll advances is likely to reinforce expectations that the Fed will keep rates restrictive for quite some time to quell inflation and ensure price growth is on a sustained downward trend. Investors will parse the minutes of the policy makers December meeting, out later Wednesday, to help shed light on the central banks outlook.

A labor market this strong means an imminent recession is highly improbable, Nick Bunker, head of economic research at Indeed Hiring Lab, said in a note. This year will pose many challenges for the US economy, but the labor market looks set to enter with considerable strength. 

The S&P 500 fell after the report and Treasury yields rose.

Separate data Wednesday showed US manufacturing activity contracted for a second month in December, helping to further tame price pressures.

Fed Ratio

Job openings increased in professional and business services as well as manufacturing. Meantime, vacancies declined in finance and insurance and the federal government.

The ratio of openings to unemployed people remained elevated at 1.7, little changed from October. It was around 1.2 before the pandemic.

Fed officials watch this ratio closely and have pointed to the elevated number of job openings as a reason why the central bank may be able to cool the labor market and therefore inflation without an ensuing surge in unemployment. 

That said, many economists expect Fed tightening to push the economy into recession within the next year and for unemployment to rise to some degree.

The JOLTS report showed moderation in hiring in some sectors, including industries like accommodation and food services, construction and retail trade. Meantime, layoffs ticked lower.

What Bloomberg Economics Says

The stability in Novembers job openings defied consensus expectations and underscored the Feds difficulty in bringing wage growth to a level consistent with the central banks price target. The elevated quits rate should keep competition for labor supply intense, maintaining upward pressure on wages.

  Anna Wong, economist

The so-called quits rate, which measures voluntary job leavers as a share of total employment, rose for the first time since February to 2.7%, or 4.2 million Americans.

The data precede Fridays monthly jobs report, which is currently forecast to show employers added 200,000 payrolls in December. Economists are expecting the unemployment rate to hold at 3.7% and for average hourly earnings to moderate somewhat.

(Adds Bloomberg Economics comment)

With assistance from Chris Middleton.

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Perhaps most significantly, closing an account may impact the variables that contribute to your credit score, such as the overall age of your credit lines or your utilization ratio, causing your score to decline. The hit to your credit score, however, is likely to be short-lived and for some people, closing an account may still be the right move.

Why does closing your credit card impact your credit score? 

If youre having trouble controlling spending, eliminating a credit card can be a tempting step to take, particularly if you have multiple cards. But its a move that can negatively impact your credit score in various ways. 

Multiple factors contribute to your credit score, including such things as the overall age of your open accounts, your total credit utilization ratio, and your credit mix, which is the different types of credit accounts you have open. All of these factors combine to make up whats known as your FICO or Fair Isaac Corporation credit score, which is a widely used credit scoring model. And when you close a credit card, it can impact one or more of these variables.

It may seem logical to close a card to eliminate the possibility of accruing more debt. However, closing your cards will not only lower your utilization, but it also removes credit history, which damages your score in the length of history category, says Chris Fred, executive vice president and head of U.S. credit cards and unsecured lending for TD Bank.

Before closing an account, its important to review your credit profile with each of these factors in mind. 

1. Increase in your credit utilization ratio 

Your credit utilization ratio is the amount of your open credit linesacross all accountsthat youre currently using. This part of your profile accounts for 30% of your FICO score. And when you close a credit card, youre reducing available credit. 

When you close a credit card, you lose the available credit limit on your account. This can increase your utilization rate or your balance-to-limit ratio, which in turn will temporarily lower your credit score, says Rod Griffin, senior director consumer education and advocacy at Experian. How much your credit score decreases after you close a credit card will depend on your unique credit history. 

To help avoid being impacted by this particular factor, its a good idea to pay off credit card balances in full each month. And failing that, aim to at least keep your credit card balances below 30% of your available credit line for each card, which demonstrates responsible borrowing behavior.

2. Reduced length of credit history

Yet another element in your overall credit score is the average length of your credit history. This accounts for 15% of your FICO score. Closing a credit card can decrease the average age of your accounts, particularly if its a card that youve had for much longer than others. Closing your newest account, however, generally will have minimal to no impact on credit history.

A long credit history allows future creditors to assess your credit behavior and how you might handle credit moving forward. 

The good news is this particular variable is not as important as other elements that contribute to your credit score. This is usually not a major concern since accounts in good standing remain on your credit reports for ten years after theyve been closed, says Leslie Tayne, debt relief attorney and founder of Tayne Law Group.

3. Limits your credit mix 

Your credit mix is the diversity of the types of credit accounts you maintain. A diverse credit profile for instance, might include auto loans, student loans, credit cards, and a mortgage. Your credit mix accounts for 10% of your FICO score and when you close a credit card, you may inadvertently be reducing that mix.

Your mix might get overweighted to a particular loan type, says Fred. Maintaining a mix of credit demonstrates that you can handle multiple types of loans. Improving your credit mix can also help you reach a higher credit score status. 

When to close a credit card

While your credit score may take a short-term hit from closing an account, that doesnt mean you should necessarily avoid taking this step altogether, particularly if doing so will be better for you over the long run.

Concerns about the impact closing a credit card will have on your credit score should not keep you from doing so if it is the best move to protect your financial health, says Griffin. If youre having trouble resisting the temptation to overspend, closing the card may be the better move for your financial health.

If you can no longer afford the annual fees associated with the card or if you dont use the card very much and dont feel like youre getting any value for the fee youre paying, it may also make sense to close your credit card.  Before taking this step, however, consider contacting your credit card issuer and find out whether you might be able to simply shift to a less expensive credit card account.

Additionally, if a credit card was opened jointly with someone else, and you no longer wish to have an account with that user, it may make sense to do away with the account.

Finally, if you simply no longer use a credit card, it may not be adding any value to your credit profile and may be worth closing.

If you havent used an account for a year or two, it might make sense to close it anyway. Accounts with no activity may be excluded from score calculations, even if they are still in your credit report, says Griffin. Scoring systems typically require several months of consecutive activity to be included in the calculation. 

When to avoid closing a credit card

There are a few scenarios in which you may want to avoid closing a credit card as well. For instance, if your credit score is already low, it may perhaps be best to hold off closing an account rather than decrease your score further.

In addition, if you have significant balances across other credit cards, you may also want to pause on eliminating any accounts.

If canceling a card, especially one with a high credit limit, would drastically increase your credit utilization rate, it may be a good idea to work on paying down your other card balances first in order to avoid a negative hit to your credit score, says Griffin.

Youll also want to think carefully about which credit cards you choose to close. Its a good idea to avoid closing the credit card youve had the longest, as this will significantly decrease the length of your credit history, and thus, more negatively impact your credit score.

The bottom line? When possible, avoid closing your credit cards and look for alternative options to reign in your spending.

In general, its a good idea to keep all of your credit cards open, even if you arent using them, advises Tayne. Thats especially true if you carry a balance across your cards or are working on repairing your credit. You can always cut up the physical card and keep the account active.

Tips for closing a credit card

If you absolutely must close a credit card, there are a few steps you can take first in order to minimize the impact. The first step should always be to obtain your credit report and get a snapshot of your current standing across all accounts and your current score. 

Youll want to determine what your credit utilization ratio is and assess how closing an account might impact that ratio. If you have high debt across multiple cards or loans, consider paying down some balances prior to closing a credit card.

You can also ask for a credit limit increase on one of your other cards to offset the loss of a credit line so that your utilization rate stays the same, says Tayne.

Finally, if your spending habits are not whats driving you to close the account, it can also make sense to first open another new credit card that may be more valuable to you in terms of rewards offerings or other perks, in order to help maintain a healthy credit utilization ratio.

The takeaway 

While everyones financial situation is unique, before closing a credit card, its a good idea to consider all of the ramifications and options. Review your credit score and calculate your credit utilization ratio prior to making any final decisions. But remember, your financial health is most important and if closing a credit card is the best move, then its best to do so. The good news is, closing an account is not likely to have a long-term impact on your credit score.