Why Apple Shares Dropped Friday
Black Friday can be an important day for consumer products companies like Apple (NASDAQ: AAPL), but investors aren't feeling good about its stock today. Apple shares were down 2% as of 12:45 p.m. ET on this holiday-shortened trading day.
Investors are likely down on the stock because of a situation that's somewhat out of Apple's control. COVID-19 cases in China have soared to levels that are causing the government to institute a new wave of lockdowns. And one city that is being affected the most is Zhengzhou, which is home to the largest iPhone assembly plant in the world. That has investors worried more about supply than demand for Apple's products during the important holiday season.
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Source Fool.com
