Why Apple Investors Suffered a Tough Time on Tuesday
Apple (NASDAQ: AAPL) stock wasn't particularly shiny or tasty on Tuesday. The tech giant's shares fell by 1.4%, a steeper drop than that experienced by the flat-lining S&P 500 index. One catalyst was a new analyst report, which although generally positive, highlighted some challenges currently faced by the iDevice maker.
That morning, Samik Chatterjee of JPMorgan Chase wrote in a fresh note that the supply woes affecting the production and distribution of Apple's latest iPhone model were easing.
Citing his company's Apple product availability tracker analytics tool, Chatterjee said that the supply of the many necessary components for the iPhone 14 was being effected faster.
Source Fool.com