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
Last year, Apple launched CarPlay Ultra, the long-awaited next-generation version of its CarPlay software system for vehicles. Nearly nine months later, CarPlay Ultra is still limited to Aston Martin's latest luxury vehicles, but that should change fairly soon.
In May 2025, Apple said many other vehicle brands planned to offer CarPlay Ultra, including Hyundai, Kia, and Genesis.
In his Powe...
Apple today confirmed to Reuters that it has acquired Q.ai, an Israeli startup that is working on artificial intelligence technology for audio.
Apple paid close to $2 billion for Q.ai, according to sources cited by the Financial Times. That would make this Apple's second-biggest acquisition ever, after it paid $3 billion for the popular headphone and audio brand Beats in 2014.
Q.ai has...
The calendar has turned to February, and a new report indicates that Apple's next product launch is "imminent," in the form of new MacBook Pro models.
"All signs point to an imminent launch of next-generation MacBook Pros that retain the current form factor but deliver faster chips," Bloomberg's Mark Gurman said on Sunday. "I'm told the new models — code-named J714 and J716 — are slated...
Apple recently updated its online store with a new ordering process for Macs, including the MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, and Mac Pro.
There used to be a handful of standard configurations available for each Mac, but now you must configure a Mac entirely from scratch on a feature-by-feature basis. In other words, ordering a new Mac now works much like ordering an...
Apple is planning to launch new MacBook Pro models with M5 Pro and M5 Max chips alongside macOS 26.3, according to Bloomberg's Mark Gurman.
"Apple's faster MacBook Pros are planned for the macOS 26.3 release cycle," wrote Gurman, in his Power On newsletter today.
"I'm told the new models — code-named J714 and J716 — are slated for the macOS 26.3 software cycle, which runs from...
