Apple's Stock Hit 18-Month Low This Week Amid iPhone 14 Pro Supply Issues
Apple's shares fell to an 18-month low this week amid iPhone supply issues and a broader downturn in the stock market. Apple's stock closed at $126.04 on Wednesday to reach its lowest mark since June 2021, and still remains within that territory.
Apple's manufacturing partner Foxconn has faced iPhone production constraints due to COVID-19-related issues over the past few months. Last month, workers protested at Foxconn's main iPhone factory in Zhengzhou, China over poor working conditions stemming from COVID-19 restrictions. While the Chinese government has since started to ease some restrictions, increased spread of the virus has led to labor shortages at Foxconn.
Last month, Apple issued a rare public warning stating that iPhone 14 Pro and iPhone 14 Pro Max shipments would be lower than it previously anticipated due to the restrictions that were in place at Foxconn at the time.
Earlier this week, Taiwanese research firm TrendForce said the capacity utilization rate of Foxconn's factory had yet to rise above 70% since the production issues began. The situation has primarily impacted the iPhone 14 Pro and iPhone 14 Pro Max given stronger demand for those devices, resulting in multi-week shipping delays. The standard iPhone 14 and iPhone 14 Plus models are both in stock on Apple's online store.
Due to the COVID-19-related issues, economic uncertainty, and the weeklong Chinese New Year holiday next month, TrendForce believes that the iPhone production issues will continue into early 2023 and lowered its iPhone shipment forecast for all models to 47 million units in the first quarter of the year, down from 52 million.
Apple briefly achieved a $3 trillion valuation earlier this year, but the company's market cap is now closer to the $2 trillion mark again.
Popular Stories
Apple today introduced the second-generation AirTag, with key features including longer range for tracking items and a louder speaker.
For those who are not familiar, the AirTag is a small accessory that you can attach to your backpack, keys, or other items. Then, you can track the location of those items in the Find My app on the iPhone, iPad, Mac, Apple Watch, and iCloud.com.
The new...
Apple today introduced its first two physical products of 2026: a second-generation AirTag and the Black Unity Connection Braided Solo Loop for the Apple Watch.
Read our coverage of each announcement to learn more:Apple Unveils New AirTag With Longer Range, Louder Speaker, and More
Apple Introduces New Black Unity Apple Watch BandBoth the new AirTag and the Black Unity Connection Braided...
Apple plans to release new MacBook Pro, MacBook Air, Mac Studio, and Studio Display models in the first half of this year, according to Bloomberg's Mark Gurman.
In his Power On newsletter today, Gurman added that redesigned MacBook Pro models with an OLED touch screen "should be hitting toward the end of 2026," meaning that the MacBook Pro line would be upgraded twice this year.
First up...
Alongside iOS 26.2.1, Apple today released an updated version of iOS 12 for devices that are still running that operating system update, eight years after the software was first released.
iOS 12.5.8 is available for the iPhone 5s and the iPhone 6, meaning Apple is continuing to support these devices for 13 and 12 years after launch, respectively. The iPhone 5s came out in September 2013,...
2026 promises to be yet another busy year for Apple, with the company rumored to be planning more than 20 product announcements over the coming months.
Beyond the usual updates to iPhones, iPads, Macs, and Apple Watches, Apple is expected to release its all-new smart home hub, which was reportedly delayed until the more personalized version of Siri is ready. Other unique products rumored for ...
