Stock Market Today, April 7: Apple Falls After Reports of Foldable iPhone Engineering Challenges

Apple (NASDAQ:AAPL) closed Tuesday at $253.5, down 2.07%. Shares moved lower after reports of engineering challenges for a foldable iPhone and softer App Store growth. Investors will now be watching future updates on foldable hardware timing as well as momentum in its services segment.Trading volume reached 61.1 million shares, coming in nearly 30% above its three-month average of 47.6 million shares. Apple IPO'd in 1980 and has grown 197,407% since going public.The S&P 500 (SNPINDEX:^GSPC) inched up 0.09% to close at 6,618, while the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.10% to finish at 22,018. Within consumer electronics, industry peers Microsoft (NASDAQ:MSFT) closed at $372.29 (-0.16%) and Alphabet (NASDAQ:GOOGL) ended at $305.46 (+1.82%) as investors weighed AI and hardware roadmaps.Apple shares dropped following a report from Tokyo-based Nikkei Asia about engineering issues with its foldable iPhone. However, the shares trimmed losses after Bloomberg reported that the device is still set to debut in September. Investors jumped to get ahead of any potential official announcements of shipment delays amid high expectations for a key premium phone offering.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool