Apple Shares Update

Apple is still working on a glass-focused design for the iPhone’s 20th anniversary, people familiar with the matter told Bloomberg, refuting an analyst report claiming the plan had been scrapped. Recently, Jefferies Analyst Edison Lee expressed his about the outlook for the company’s iPhone, especially Apple’s ability to drive higher average selling prices over time. Lee also downgraded Apple shares, saying the move would hinder efforts to offer higher-priced smartphones. Following the report, Apple shares fell as much as 2.8% in New York on Monday. Apple shares have fallen about 8% from their recent peak as component shortages weigh on the company’s sales outlook.