Apple Shares Hit Lowest Since June 2021 on iPhone Supply Concerns
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Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period.
Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period.The stock fell 1.4% in its third straight negative session. While Apple remains a modest outperformer for 2022, with a 27% decline that is narrower than the 34% drop of the Nasdaq 100 Index, it has lagged the tech-heavy gauge over the past month. Recent weakness has come as production halts in a major iPhone plant in China contribute to a supply shortfall of Apple's flagship product. Earlier on Tuesday, JPMorgan w...