Shares of Apple, Inc. fell in Monday’s premarket as investors digested two pieces of information that may have a bearing on the company’s fundamentals. A report said that sales of the latest iteration of Apple’s flagship device, the iPhone 15, have seen a slower uptake than the iPhone 14, citing data from Counterpoint Research and Jefferies analyst Edison Lee. The softness reflected the competitive threat posed by Huawei’s newest smartphone, which has overtaken the Chinese smartphone market.
A separate Wall Street Journal report said Goldman Sachs Group, Inc. executives favor wriggling out of the investment bank’s consumer finance partnership with Apple. The two companies launched a high-yielding savings account in April and jointly offer Apple-branded credit cards. The big bank has been incurring massive losses on these operations.
In premarket trading, Apple stock fell 0.82% to $177.38, according to Benzinga Pro data.
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