Apple weighs on Dow Jones Industrial Average; analyst charts iPhone supply woes


Apple Inc. AAPL, -2.19% fell 1.9% on Friday as the worst performer in the 30-stock Dow Jones Industrial Average DJIA, +0.48%. Wedbush analyst Daniel Ives on Friday reiterated an outperform rating on Apple but said his analysis shows that iPhone 14 Pro shortages and longer wait times for devices have gotten much worse over the last week with very low inventories across the board. “We believe many Apple Stores now have iPhone 14 Pro shortages based on model/color/storage of up to 25%-30% below normal heading into a typical December, which is not a good sign heading into holiday season for Cupertino,” Ives said. The Dow Jones Industrial Average is up 172 points, or 0.5%.

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