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Apple is reported to have asked suppliers to reduce component production for iPhone 18 Pro and Pro Max due to soft demand, with suppliers citing price hikes and rising memory chip costs. The stock was down about 1.9% ahead of the open.
Apple stock was down about 1.9% ahead of the open as iPhone 18 Pro and Pro Max component production was reportedly cut to address soft demand.
AeroVironment said first-quarter fiscal 2027 revenue rose 6% year over year to $480.49 million, above the $456.20 million analyst estimate. Adjusted EPS was 59 cents versus 24 cents expected, and the company kept full-year revenue and EPS guidance unchanged.
U.S. stocks fell Tuesday as crude oil extended higher, pushing the 10-year Treasury yield above 4.8% and reviving bets the Federal Reserve could raise rates next week. The Dow led declines, while Amgen was the biggest drag.