Apple Shares Hit Lowest Since June 2021 Amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period, the stock fell 1.4 per cent in its third straight negative session, reported Bloomberg

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

Apple Inc. shares closed at their lowest level since June 2021 on Tuesday, reported Bloomberg.

Amid an ongoing selloff of big-tech stocks amplified by concerns over iPhone supply in the key holiday period, the stock fell 1.4 per cent in its third straight negative session. While Apple remains a modest outperformer for 2022, with a 27 per cent decline that is narrower than the 34 per cent drop of the Nasdaq 100 Index, it has lagged the tech-heavy gauge over the past month, the report quoted.

Recently, production was halted in a major iPhone plant in China contributing to a supply shortfall of Apple's flagship product. Earlier on Tuesday, "JPMorgan wrote that iPhone supply is improving and inching slowly towards parity with demand, although it added that Apple is typically much further along in reaching parity between iPhone demand and supply, at this time in the year," it added.

"The group is facing its worst December performance since the dotcom era as investors expect the Federal Reserve will retain a hawkish stance as it grapples with inflation," said the report.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Growing a Business

Why Data Centers Are the New Powerhouses of the AI Economy — and How They Can Strengthen Your Brand

As AI reshapes industries, data centers have evolved into critical drivers of innovation, sustainability, and customer trust. Learn how the right infrastructure choices can boost your brand, future-proof your business and unlock competitive advantages in the AI economy.

Business News

'I Didn't Know What I Was Doing': PayPal's Cofounder Says When It Comes to Layoffs, CEOs Should Help Employees Pack Their Boxes

Max Levchin, cofounder of PayPal and CEO of Affirm, shares what he believes is the most decent way to handle the unpleasant task of carrying out layoffs.

Business Plans

How Entrepreneurs Can Thrive Through the 5 Stages of Business Growth

Growth isn't linear — each stage requires new strategies and leadership evolution.