Apple's stock sinks as high hope for iPhone X sales fade
SAN FRANCISCO (AP) — Apple's stock is backtracking from its recent highs amid mounting concerns that iPhone X sales will fall short of the high hopes for a device that brought facial recognition technology and a $1,000 price tag to the company's flagship product line.
Speculation about disappointing demand for the iPhone X have been swirling for the past week, contributing to a 6 percent decline in Apple's stock since it hit an all-time high of $180.10 on Jan. 18. The shares sank $3.11 to $168.40 in Monday's late afternoon trading, translating into a nearly $60 billion loss in the company's market value since the stock last peaked.