Stocks fell on Thursday as investors retreated ahead of the Federal Reserve's Jackson Hole symposium, with European stocks dropping and technology stocks giving up earlier gains, while Walt Disney shares tumbled, and Treasury yields increased on strong economic data and concerns about inflation.
Apple shares have declined due to falling revenue in its product segments, but the company's long-term outlook remains strong, driven by its booming services business and dominant market shares, with two reasons to buy Apple stock being the upcoming iPhone launch and its potential in high-growth industries like AI and virtual/augmented reality.
Apple Inc. experienced a significant decline in its stock price after reports emerged that Chinese government agencies have banned the use of iPhones and other foreign-branded devices by their staff.
Apple stocks fell 3.6% after China reportedly banned officials from using or bringing iPhones and other foreign-branded devices into the office, signaling Beijing's push to reduce dependence on American technologies.
Stocks sold off and major indexes closed in the red, while U.S. Treasury yields rose for the second consecutive day; China's trade activity fell in August, but not as badly as expected; Apple signed an agreement with Arm that extends beyond 2040, securing access to the Arm architecture; China reportedly banned government officials from using Apple's iPhone for work; and inflationary pressures and the threat of higher interest rates are causing market concerns.
Asian stocks fell as trade data indicated weakness in the Chinese economy and regional technology shares were hit by the possibility of more U.S. restrictions on China after a supposed Chinese chip breakthrough.
Apple shares fell over 2.6% as China plans to extend a ban on iPhone use to state-owned corporations, while Dutch Bros dropped 6% after announcing a public offering of $300 million in shares, and Dave & Buster's shares fell over 3% due to weaker-than-expected earnings.
The Dow Jones Industrial Average dropped after a decrease in initial unemployment claims, while Apple stock declined due to China's order for officials to not use iPhones and other foreign-branded devices for work.
The Nasdaq tumbled due to Apple's falling shares after reports of China banning government officials from using its iPhone and extending the ban to state companies, while the Dow Jones Industrial Average remained flat and the S&P 500 dropped 0.4%.
Apple stock is experiencing a decline leading up to the release of the iPhone 15.
Apple's recent sell-off due to concerns about a Chinese crackdown on iPhone usage among government workers should not deter investors from the tech giant.
Despite reports of China banning iPhone use for government employees, CNBC's Jim Cramer advises investors not to sell Apple, citing the company's ability to adapt and potentially find a compromise with China.
Apple shares face a downturn as China plans to extend its ban on iPhones to government agencies and state companies, potentially wiping out $200 billion of the company's market value, as China's economic crisis threatens demand for consumer electronics and rising US Treasury yields add to Apple's troubles.
Asian shares fell and the dollar's rally stalled as the greenback weakened against most major currencies; concerns over Apple's iPhone sales in China and the expansion of a ban on iPhones in sensitive departments in China to government-backed agencies and state companies also weighed on sentiment.
Shares of major Apple suppliers dropped following reports of China widening curbs on iPhone use by state employees, raising concerns about sales in one of Apple's biggest markets.
Apple shares stabilize after a recent loss following a Chinese crackdown on iPhone use, while Disney channels remain blacked out for Charter subscribers, and other notable stock updates are highlighted.
Investors hoping for a surge in Apple's stock on iPhone launch days may be disappointed, as historical data shows that the stock usually falls on the day of the announcement and the release, but gains in the months following the release.
U.S. stocks fell on Tuesday, with tech stocks dragging down indexes after Apple unveiled its latest iPhone and the Justice Department's antitrust case against Google went to trial in Washington. The Nasdaq sank 1%, while the S&P 500 fell 0.6% and the Dow Jones Industrial Average closed 0.1% lower.
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, were unchanged after hours as the stock market rally experienced losses, with the S&P 500 and Nasdaq dropping below the 50-day line, while energy stocks led and software retreated. Apple stock fell after unveiling the iPhone 15 and other products, while stocks such as Salesforce, Alphabet, General Electric, Shopify, and Nvidia remained in or near buy areas. The CPI inflation report and Adobe earnings are potential market catalysts.
Stocks slump as Oracle and Apple experience losses, with the Nasdaq Composite having its first losing day in three, while Apple's new iPhone 15 and iPhone 15 Pro fail to boost investor interest in the company.
Shares of Microsoft Corp. fell 2.50% as the stock market experienced a dismal trading session, ending its two-day winning streak.
Tesla's stock fell after Barclays predicted that the company would fall short of delivery expectations, with analysts forecasting third-quarter deliveries of 455,000 units compared to the consensus forecast of 463,000 units.
Apple stock receives a rare downgrade over concerns of slowing US sales and restrictive iPhone promotions, leading to a decrease in its shares.
Tesla shares fell after the company lowered prices on its Model 3 and Model Y vehicles in the U.S. to boost demand, following lower-than-expected third-quarter deliveries.
