Apple fell 2.84 percent on Monday, after sinking before the end of the week. On Friday, the stock ended 6.33%, the worst case in four years.
As a result, the stock has fallen 9.40 percent since closing on Thursday, when the company delivered its latest quarterly report.
Apple's earnings per share were $ 2.91 per share in the fourth quarter, from $ 2.27 a share a year earlier.
US stock markets ended on Monday, where the technology sector was burdened by a new day of decline for Apple.
On the closing date, developments were as follows:
- The Dow Jones Industrial Average rose 0.76%
- The Standard & Poor's 500 Index gained 0.56%
- The Nasdaq Composite Index shed 0.38%
Sources: Iphone Trays XR
Nikkei Asia Review wrote Monday that Apple has protected programs to boost the production of iPhone XR and focus on old models iPhone 8 and iPhone 8 Plus. Anonymous sources familiar with the case say that the Foxconn subcontractor will generate about 100,000 fewer phones per day than the plan.
– From the side of Foxconn, they clarified the 60 production lines for Apple's XR model. Previously, they used only about 45 production lines, as the company's first customer said they did not have to produce so much now, says one source of the site.
Apple stock is being upgraded again
Following the results of the report before the end of the week, brokerage firm Rosenblatt Securities also lowered the recommendation to Apple, writes CNBC.
This is the second ranking for the iPhone manufacturer according to number one, potential customers and phone sales disappointed in the market.
On Wall Street, Apple falls to a new 3 percent Monday, and the stock is down 9.5 percent since Thursday.
Analysts at Rosenblatt cut the recommendation to neutral from previous acquisitions, arguing that Apple would be difficult to neutralize the weaker sales cycle with higher prices.
On Friday, Bank of America lowered its recommendation for Apple.