Apple Shares Drop 3.2% as Foldable iPhone Output Stalls at Few Hundred Units
Updated
Updated · Yahoo Finance · Sep 4
Apple Shares Drop 3.2% as Foldable iPhone Output Stalls at Few Hundred Units
3 articles · Updated · Yahoo Finance · Sep 4
Summary
Apple stock fell as much as 3.2% Friday and was still down 2.2% by 2 p.m. ET after a report said its foldable iPhone production ramp is moving slowly.
Nikkei Asia said initial output was limited to only a few hundred devices a day, with Apple adding another trial production run last month because of its strict quality standards.
That pace could make it difficult to meet demand if Apple unveils the device at an event expected next week and aims to ship in time for the holiday season.
The setback matters because Apple relies on premium positioning—Counterpoint said it captured 49% of global smartphone revenue last year while shipping 23% of devices.