Shares of Apple (NASDAQ: AAPL) traded lower on Monday, slipping as much as 2.4%. When the market closed for the day, the stock was still down 2.2%.

The major market indexes were all lower today, which no doubt helped fuel the stock's decline. Another factor weighing on the tech giant was deteriorating conditions in China.

Numerous media reports suggest that the country is suffering its worst COVID-19 outbreak in months, with tens of thousands of new infections. This could further delay the availability of some of Apple's most popular iPhones during the important holiday season.

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Source Fool.com