Key Stats for Apple Stock
- Price change for Apple stock in the last 6 months: 29%
- $AAPL Stock Price as of Oct. 9: $337
- 52-Week High: $345
- $AAPL Stock Price Target: $328
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What Happened?
Apple (AAPL) shares fell about 1.1% on Friday after a Nikkei Asia report said Apple has cut component orders for the iPhone 18 Pro models by at least 15% this month.
The report cites unnamed sources who said demand is weaker than expected.
Apple launched the iPhone 18 Pro and Pro Max last month. They start at $1,199 and $1,299, $100 more than the 17 Pro models.
There is also no standard iPhone 18 this year as Apple is holding it back until early next year.
The upgrades are smaller this time, too. The 18 Pro models bring a faster chip and a better main camera. The iPhone 17 Pro had a bigger design change.
It is unclear if the cuts will affect the iPhone Duo. That is Apple’s first foldable phone. It starts at $1,999 and launches October 23.
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What the Market Is Telling Us About Apple Stock
Investors are reading this as a demand worry. Apple stock has still gained nearly 8% since last month’s iPhone event. So the drop is a small pullback after a run.
The report also clashes with what Apple said in July. On its Q3 call, the company said iPhone demand was running above its own forecasts.
iPhone revenue hit $54.3 billion, up 22%. Apple said chip supply, not demand, was the limit.
Higher prices are the likely link. Tim Cook told the Wall Street Journal in June that price hikes were “unavoidable” because chip costs were soaring.
On the July call, he called memory pricing a “100-year flood.” He also said it was too early to tell how buyers would react to the price increases on Mac and iPad.
Apple’s guidance already pointed to a slower stretch.
It expected September quarter revenue to grow 9% to 11%, down from 16% in the June quarter. It also guided gross margin to 47%-48%.
So Apple stock is caught between strong recent results and a question about price-sensitive buyers. The next test is how the iPhone 18 Pro sells and what Apple says about demand.
Any update on the iPhone Duo launch will matter too. Until then, Apple stock may stay choppy.
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So what is Apple stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
