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Apple Stock Falls The Most Since The Financial Crisis Due To iPhone Manufacturing Problems

Even though iPhone 14 Pro production lead times have begun to normalize following the pandemic lockdown scare that prevented Foxconn from assembling enough units to meet demand not long ago, the iPhone 14 series production schedule and sales are not where investors would like them to be.

As a result, Apple’s stock has fallen another 12.4% in December. In addition to this, titans such as Apple and Tesla are currently experiencing some of their worst stock declines ever. For Tesla, this is the largest decline ever recorded, while Apple’s stock will experience its largest decline since the 2008 financial crisis and subsequent decline in stock indexes.

Apple is on the verge of closing below $130 per share, wiping out all gains accumulated since mid-2021, and its stock has dropped a whopping 27% for the entirety of 2022. The Federal Reserve’s efforts to raise interest rates certainly played a role, as investors fled riskier investments like tech stocks and sought refuge in safe havens, resulting in a nearly 34% decline in the Nasdaq this year.

Apple grabbed a staggering 42% of the global phone revenue in the most recent quarter, and while the last quarter of the year may be negatively impacted by the COVID surge in China following the country’s reopening, its revenue may very well hit record again, riding the higher average selling price of its iPhone 14 series, which is heavily skewed toward the more expensive iPhone 14 Pro and iPhone 14 Pro Max models.

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The above article was written by the BestTopReviewsOnline team, which consists of some of the most knowledgeable technical experts in the United States. Our team consists of highly regarded writers with vast experience in smartphones, computer components, technology apps, security, and photography, among other fields.

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