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StockWatch: Apple Stock Drops on Production Fears!

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Apple’s shares were shaken following reports it could slash its iPhone 13 production targets due to the ongoing global computer chip shortage.

The company had expected to make 90m iPhones in Q4. However, that total will be lower by as many as 10 million units.

LG Electronics has agreed to reimburse General Motors up to $1.9bn due to fire risks caused by faulty batteries.

Problems with the battery have led the automaker to recall every one of the electric cars since production began in 2016.

Timestamps:

  • APPL 01:35
  • GM 03:25

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