Apple Has Worst Week Since 2022
Apple stock just had its worst week since November 2022. Concerns about iPhone sales and delayed AI continue to drag on the shares. The post Apple Has Worst Week Since 2022 appeared first on 24/7 Wall St..

Last week, Apple Inc. (NASDAQ: AAPL) shares had their worst week since 2022. They fell 11%, which was the most since November 2022. The stock is down 16% this year, while the S&P 500 is off by 6%.
24/7 Wall St. Key Points:
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Apple Inc. (NASDAQ: AAPL) stock had its worst week since November 2022.
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Concerns about iPhone sales and delayed AI have dragged on the shares.
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Several concerns have hit Apple’s shares. The first is market share in China, which is the world’s largest smartphone market, with 1 billion units in circulation. The company has fallen behind Vivo, Huawei, and Oppo, each of which is based in China. These have artificial intelligence (AI) software features. Apple does not have advanced AI software in the Chinese market. Without success in China, Apple cannot do well worldwide.
Apple continues to delay its flagship AI product, even in the United States. Its Apple Intelligence was supposed to be released as part of iOS18, which was to be launched slightly after the iPhone 16 late last year. Axios reports, “Apple’s acknowledgment that AI enhancements to Siri are taking longer than expected has increased concern that the iPhone maker is falling further behind in what is shaping up to be a tectonic shift for the tech industry.” Even the company called this “embarrassing.” Every other major tech company has launched an AI version of some set of its products. Apple may end up a year behind most of the industry.
Apple also has to face the fact that users can download cutting-edge AI software from the App Store, including products from OpenAI and Elon Musk’s xAI. Each of these is considered state of the art and is upgraded every few months.
Questions about the upgrades of the iPhone 16, compared to the iPhone 15, have dogged Apple since its launch last September. This also has been an issue with the past several iPhone generations. The conventional wisdom about this weakness is that a slightly better camera and slightly faster processor would not bring in a rush of customers.
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Apple Stock
The stock continues to be a good long-term investment, at least if people look back five years. Shares are up 273%, while the S&P 500 is 146% higher. That spread drops considerably when the last year is the measure. Apple stock is up 23%, while the S&P 500 is 11% higher. The company is starting to lose its advantage over the benchmark by which the market is often measured.
The post Apple Has Worst Week Since 2022 appeared first on 24/7 Wall St..