Apple shares fall as iPhone order cuts reported; SpaceX deal pressures telecom sector
Apple's stock declined in premarket trading on Friday following a report that the company reduced component orders for some iPhone 18 Pro models due to weaker-than-expected demand. The move raised concerns about consumer appetite and potential impacts on Apple’s upcoming product cycle. Meanwhile, SpaceX announced an agreement related to spectrum acquisition, which triggered pressure on telecom stocks as investors assessed implications of increased competition in the sector from a non-traditional player like SpaceX.
Topics: Apple component orders iPhone demand stock price decline