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Why Apple Stock Is Falling Today

Why Apple Stock Is Falling Today

Shares of Apple (NASDAQ: AAPL) were tumbling today after a Bloomberg report said that the company is walking back plans to boost iPhone production. This news worried Apple shareholders, sending the tech stock down by 2.9% as of 12:14 p.m. ET. Apple had originally told its suppliers to prepare for increased production as it anticipated higher demand for its latest iPhone 14 models.