Why Apple Stock Sank on Friday
Yahoo Finance ·
Shares of Apple ( AAPL -2.21% ) got bruised on Friday, slipping as much as 3.2%. As of 2:00 p.m. ET, the stock was still down 2.2%. The catalyst that sent the iPhone maker lower was a report that its latest product is facing production issues. One of Apple's most highly anticipated products is a foldable iPhone. Development of the device has long been rumored, and the latest whispers suggest the futuristic phone is in production, with a potential introduction at an Apple event scheduled for next week. However, Nikkei Asia reports that the initial production run was limited to only a "few hundred" units per day of the next-generation devices. Apple is known for its high standards and strict quality control, and reportedly added an additional trial production run last month. As a result, "production is ramping up slowly."
DYAX Investor Sentiment
Bullish (Long) 46% · Bearish (Short) 54%
330 participants
Related News
- Google Turns Three Everyday Apps Into Paid Gemini Microphones
- Meta Cuts AI Output Prices 95%--If Developers Share Their Work
- Amazon's $100 Billion Anthropic Contract Gets a 45% Cheaper Engine
- Sector Update: Consumer Stocks Fall Late Afternoon
- Oura's Revenue Just Jumped 74% — and Its IPO Filing Shows It's Not Just a Wearables Company Anymore
- 2 High-Yield Dividend Stocks Worth Buying Right Now
