Apple Stock Is Trading Lower Tuesday: What's Going On?

Apple Inc AAPL shares are trading lower Tuesday. New reports suggest the company has told a supplier it halted work on its next high-end Vision device.

What To Know: According to a report from The Information citing an employee from a manufacturer that makes components for the Vision Pro, Apple has told at least one of its suppliers that it suspended work on the next high-end version of the Apple Vision headset.

Apple is still reportedly working on releasing a more affordable Vision product without as many bells and whistles before the end of 2025. The report indicates that the tech giant initially planned to separate its Vision product into two distinct product lines similar to the standard and Pro versions of the iPhone. It’s not clear what Apple’s Vision strategy will be moving forward.

What Else: Apple shares are moving lower on Tuesday after rising on Monday. The stock has been stuck in a trading range between $210 and $220 since it surged following a series of AI announcements from the company's Worldwide Developers Conference (WWDC).

Several analysts lifted price targets on the stock following the WWDC event with most arguing that new AI-powered features will drive an iPhone upgrade cycle.

JPMorgan is the latest analyst firm to weigh in on Apple shares following the WWDC event. Similar to other analyst reactions, JPMorgan analyst Samik Chatterjee maintained Apple with an Overweight rating on Tuesday and raised the price target from $225 to $245.

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AAPL Price Action: Apple shares were down 1.10% at $214.29 at market close Tuesday, according to Benzinga Pro.

Photo: Courtesy of Apple.