Apple (AAPL) Shares Dip Due to Weak iPhone 16 Demand

Oct 01, 2024

Apple (AAPL, Financial) shares dropped by 2.6%, currently trading at $226.89. Barclays cited data indicating that a major Taiwanese supplier reduced orders for iPhone 16 for the December quarter due to weak demand, maintaining a "Underweight" rating on the stock. Additionally, Citi has revised down its sales expectations for Apple's iPhone for both the September and December quarters.

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