Apple Stock Drops Amid Supply Chain Concerns

Apple. Those shares closed at their lowest price since June 2021 yesterday. That amid a larger tech selloff ending the year, the tech giant is still outperforming the NASDAQ as a whole, following 27% in 2022, compared to 34% for the larger NASDAQ. But concerns over iphone production and demand have weighed on Apple in recent months. That's because production halts due to covid outbreaks shutdowns in violent protests at the Foxconn plant in china, where a majority of those iphones are made have now prompted Apple to announce they're going to move to my phone production now to Vietnam and India now typically the company much closer to meeting iphone demand by this time of the year. But due to supply chain constraints, Apple experiencing a big shortfall.