Apple Inc. (NASDAQ: AAPL) has faced a recent 6% drop in stock price, marking its worst performance in over a year. This decline follows the company’s decision to increase prices on various products, including the MacBook Neo rising from $599 to $699 and the iPad Air from $599 to $749, citing soaring component demand due to artificial intelligence (AI) data centers.
Despite the price increases, Apple remains the world’s top smartphone seller, with the iPhone 17 leading global sales in Q1 2023. The company has a robust customer base of 2.5 billion active devices and a customer retention rate exceeding 90%. Apple has recorded substantial earnings growth over the past decade, with stock gains surpassing 1,100%.
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