To get the latest market news check out finance.yahoo.com Share of Apple and Tesla led the Nasdaq (^IXIC) lower on Thursday. The tech-heavy index dropped about 0.3%.
Apple stock closed down 4% on Thursday, its worst day since Aug. 5, following several reports of lackluster iPhone sales in China. The iPhone maker's stock price is down nearly 12% from its most recent peak in December, and it's the worst-performing of the seven largest technology stocks so far in 2025.
Apple is facing heavy criticism over its much-hyped artificial intelligence tool's habit of spitting out fake news in its AI-generated summaries – including an inaccurate alert about Defense Secretary nominee Pete Hegseth.
Apple lost its status as the best selling smartphone brand in the crucial Chinese market last year, new data showed Thursday, with a pair of local rivals surpassing it with surging shipments.
Caroline Woods covers Apple (AAPL) losing the top spot for China's smartphone sales. Vivo and Huawei became the top two, with Apple falling to third place.
The iPhone maker fell to third place in the market in 2024, according to research firm Canalys.
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Apple's (AAPL 1.97%) share price skyrocketed 93% in 2024. The iPhone maker continues to reign as the largest company in the world, with a market cap topping $3.5 trillion.
Apple's descent from the top of China's smartphone market in 2024 signals a seismic shift in the competitive landscape of one of the world's largest smartphone markets. Data from Canalys highlights a 17% decline in Apple's shipments across the country, marking its worst annual performance ever.
Apple's ongoing search for a new credit card partner has drawn significant attention in financial circles, not just for its implications for the tech giant, but also for what it reveals about shifting priorities within Wall Street.
Apple smartphone shipments in China fell 25% in the fourth quarter, while Huawei's rose 24%, data from research firm Canalys showed on Thursday.
In the most recent trading session, Apple (AAPL) closed at $237.87, indicating a +1.97% shift from the previous trading day.