Apple Shares Take a Nosedive
Today the Apple market cap took a bite out of itself after its Face‑ID supplier, Lumentum Holdings, threw a wrench into its earnings outlook.
Lumentum’s Forecast Cut Demoralizes the iPhone Giant
- Apple’s shares tumbled 4%, wiping $40 billion out of the company’s market value.
- Meanwhile, Lumentum stocks sank over 30%, showing how one supplier’s uncertainty can ripple through the tech ecosystem.
- “It’s the kind of shock that even the firm’s own AI doesn’t predict,” a market analyst quipped.
Market Mood: A Bit Gloomy
Across the board, investors seemed a little down.
- Dow Jones was down 29.97 points to 25,959.33.
- The S&P 500 slipped 7.08 points to 2,773.93.
British American Tobacco Hit Hard by Menthol Cigarette Ban Rumor
Not only is Apple feeling the chill, but tobacco stocks are groaning too.
- The Wall Street Journal reported that the US Food & Drug Administration might soon propose a ban on menthol cigarettes.
- That news gnawed on BAC’s market value, a company that earns heavily from menthol sales in the US.
All in all, it seems the market’s vibe is a bit like a rainy Tuesday — investors are holding their horses, hoping the forecast swing clears up soon.
