Shares of the iPhone and iPad maker have shed roughly 1.5% this week.
A pullback in Apple stock can largely be attributed to a potential fourth straight quarter of declining revenue expected to be reported early next month and increased competition in China, according to analysts. Shares of the iPhone maker have slipped about 1.5% this week and are now about 11% below their 52-week high reached in mid-July. Given its $2.7 trillion dollar market capitalization, Apple is the largest company in the U.S. and thus a stock market bellwether.
mountain Apple stock. Apple, led by CEO Tim Cook, has lately shown signs of weakness in previous quarters as revenue for flagship products like the Mac and iPhone have slowed. Analysts largely expect the company to post another decline in revenue when fiscal fourth quarter results are released on Nov. 2, which could spill over into the next quarter as well. "U.S. sales are going to be really weak," said Brandon Nispel, analyst at KeyBanc Capital Markets.
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