Apple’s shares retreated today!
Apple shares took a spill after a tech analyst warned that recent protests in China could harm near-term iPhone sales. The stock was down nearly 2% near midday, though it was above late-morning lows.
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Apple's shares retreated!
— The_Journalbiz (@the_journalbiz) November 29, 2022
Bloomberg Chart on apple stock fluctuation during 2022
Apple is a large component of all three major U.S. stock indexes, making the selloff is a drag on the broader market.
While another hurdle for apple appear to be Elon Musk, who said Apple is threatening to remove Twitter Inc. from its App Store and criticized the tech giant for what he called censorship. He also said the iPhone maker has withdrawn most of its advertising spending from the social-media company.
In a series of tweets Monday, Mr. Musk asked if Apple supports free speech and posted a poll asking users whether Apple should publish all censorship actions it has taken that affect its customers. Mr. Musk also asked Apple Chief Executive Tim Cook in a tweet, “What’s going on.”
“Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why,” Mr. Musk said Monday. In another tweet, he asked: “Who else has Apple censored?”
Elon Musk’s onslaught Monday against Apple Inc a cornerstone of the iPhone business empire has set the stage for a potentially bruising battle between the world’s richest man and the world’s most valuable company.
Apple and its Chief Executive Tim Cook have the ability to hold great sway over Twitter Inc.’s potential success, as the iPhone maker is a major advertiser and tightly controls the software on its App Store.