Why Apple Stock is Down Today 4%

Why Apple Stock is Down Today

In this post, we are going to talk about Why Apple Stock is Down Today on 3rd January 2023.

Why Apple Stock is Down Today?

Apple’s (NASDAQ: AAPL) stock fell by as much as 4% on Tuesday due to increasing concerns about iPhone supply during the crucial holiday season and a lack of confidence in a reprieve from rising interest rates.

This decline caused Apple’s market value to drop to $1.99 trillion, ending its status as the last company with a valuation of $2 trillion after Microsoft and Saudi Aramco both saw declines in 2022. This marks a change in fortune for Apple, which had been outperforming the S&P 500 Index for much of the past year but has struggled in recent weeks due to fears that production issues in China will negatively impact holiday sales, the company’s most important time of year.

Earlier this week, Nikkei reported that Apple has asked some of its suppliers to reduce the production of components for products such as AirPods, Apple Watch, and MacBooks due to declining demand. Exactly one year ago, Apple’s shares briefly rose above $3 trillion in market value as the S&P 500 reached an all-time high.

More Apple Company Latest News:

Apple will be raising the prices for out-of-warranty battery replacements for iPhones, iPads, and MacBooks.

Apple will be raising the prices for out-of-warranty battery replacements for iPhones, iPads, and MacBooks.
Apple will be raising the prices for out-of-warranty battery replacements for iPhones, iPads, and MacBooks.

As of March 1, 2023, Apple will increase the prices for out-of-warranty battery replacements for its iPhones, iPads, and MacBooks. This price change will apply to all iPhone models prior to the iPhone 14 series and will vary depending on the region, with a $20/£20/€24 increase.

Customers with AppleCare or AppleCare+ will not be affected by these price increases. The iPad battery replacement service will also see a price increase of $20/£30/€40 for all models except for the most recent ones.

Additionally, MacBooks will experience a price increase for battery replacements of $30/£30/€36 for all Air models and $50/£46/€60 for all MacBook and MacBook Pro models. You can find more specific pricing details for your region.

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