Apple Inc. (NASDAQ: AAPL)
Apple isn’t having the best of days in the market today. In fact, since the opening bell, the stock has been struggling to get out of the red. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for when it comes to AAPL ahead.
What We’re Seeing From AAPL
As mentioned above, Apple isn’t having the best of days in the market. Since the opening bell, the stock has been struggling, making it to the red quickly and staying there. At the moment, we’re seeing more of the same. Currently (10:43), AAPL is trading at $109.25 per share after a loss of $0.74 per share or 0.67% thus far today.
Why The Stock Is Seeing Declines
As soon as we noticed that AAPL was in the read, the CNA Finance team started digging to see exactly what was happening. It didn’t take long to dig something up. Recently there have been reports surfacing with regard to the manufacturing process surrounding the iPhone.
The reports and Twitter chatter say that Apple is looking into bringing manufacturing of the iPhone back to the United States. This is likely in reaction to Donald Trump’s win as the President-elect of the United States. Nonetheless, this means that wages will be higher and the cost of production will likely be higher, and that’s causing strain on the stock.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on AAPL and what the company is doing with regard to manufacturing. It will be interesting to see how the company handles such a transition and how attaching a made in America sticker to the iPhone will affect sales. Nonetheless, we’ll be keeping a close eye on AAPL and bringing you the news as it breaks!
Update: More bad news just broke with regard to Apple. According to recent reports, the company has uploaded iPhone call logs to iCloud without user consent. This could lead to further AAPL declines… keep your eyes peeled.
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[Image Courtesy of Wikimedia]