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Apple's stock sinks as high hopes for iPhone X sales fade
Published in 30-1-2018
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SAN FRANCISCO - Apple's stock is backtracking from its recent highs amid mounting concerns that iPhone X sales will fall short of the high hopes for a device that brought facial recognition technology and a $1,000 price tag to the company's flagship product line. Speculation about disappointing demand for the iPhone X have been swirling for the past week, contributing to a 6 percent decline in Apple's stock since it hit an all-time high of $180.10 on Jan. 18. The shares lost $3.55 to close Monday at $167.96, translating into a nearly $60 billion loss in the company's market value since the stock last peaked.