Apple Stock Is Trading Lower Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Apple Inc (NASDAQ:AAPL) shares are trading lower due to reports that the company has halted work on its next high-end Vision device. Apple is still working on a more affordable Vision product, expected by the end of 2025. Despite recent price target increases from analysts, including JPMorgan, the stock is down 1.10% at $214.29.
June 18, 2024 | 8:18 pm
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NEGATIVE IMPACT
Apple shares are trading lower due to reports of halting work on its next high-end Vision device. The company is focusing on a more affordable Vision product expected by the end of 2025. Despite recent analyst price target increases, the stock is down 1.10%.
The news of halting work on the high-end Vision device is likely causing investor concern, leading to a short-term decline in stock price. The focus on a more affordable Vision product and recent analyst price target increases provide some support, but the immediate reaction is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100