Apple Stock Falls 1.2% Amid Ex-Dividend, Analyst Downgrades, and Supply-Chain Concerns

Apple's stock took a hit on August 10, falling 1.2% in pre-open trading due to various factors that weighed on investor confidence.

The company went ex-dividend for its quarterly $0.27 payout, which mechanically trimmed the opening price of Apple shares.

In addition to the mechanical reduction, analyst and supply-chain concerns also contributed to the decline.

Jefferies downgraded Apple to Underperform and reduced its price target to $263.66 from $285.56, citing the cancellation of the highly anticipated all-glass iPhone due to low manufacturing yields and cuts to earnings estimates through fiscal year 2029.