Apple Stock Is Sliding Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Apple Inc (NASDAQ:AAPL) shares are down after analyst Ming-Chi Kuo reported a cut in iPhone 16 orders by 10 million units, affecting non-Pro models. Additionally, Apple and Goldman Sachs face a $89 million settlement over their credit card joint venture.
October 23, 2024 | 5:51 pm
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Apple's stock is sliding due to a reported cut in iPhone 16 orders by 10 million units, primarily affecting non-Pro models. Additionally, Apple faces a $89 million settlement with Goldman Sachs over their credit card joint venture.
The reduction in iPhone 16 orders suggests potential revenue pressure, especially in 1H25, due to a less favorable product mix. The regulatory settlement adds to the negative sentiment, impacting short-term stock performance.
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IMPORTANCE 90
RELEVANCE 100