The middle of the trading week was an up and down affair as stocks floundered for most of the day. A big bite was taken out of Apple as stock in the world’s biggest company slumped by as much as 3.5% before finishing down 3.15%. According to foxbusiness.com:
Credit Suisse said Apple’s supply-chain orders have weakened recently in Asia, which could weigh on Apple’s shares for the “next few weeks/quarters.” Apple has lowered its component orders by as much as 10%, according to Credit Suisse analyst Kulbinder Garcha. That points to “weak demand for the new iPhone 6s,” said Garcha. He lowered his estimate on how many iPhones Apple will build in the next calendar year to 222 million from 242 million, and reduced his calendar-year 2016 earnings per share estimates by 6%
Watch more on today’s market activity from CNBC below.
Here are the final numbers from Tuesday, 11/10/15 on Wall Street:
Dow Jones Industrial Average: 17, 758.21 (+27.73/ +0.16%)
NASDAQ: 5,083.24 (-12.06 / -0.24%)
S&P 500: 2,081.72 (+3.14 / +0.15%)