Apple Shares Hit Lowest Since June 2021 on iPhone Supply Concerns
- Recent weakness hasn’t erased stock’s 2022 outperformance
- IPhone supply issues have recently acted as a headwind
This article is for subscribers only.
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.