Stocks
Apple Stock Slips Despite Apple Pay Launch Plans in Key Market India
Apple's stock (AAPL) took a 3% hit on Tuesday afternoon, dipping to around $330. The decline came despite reports that Apple is gearing up to launch its secure mobile payment service, Apple Pay, in India later today, September 29.
According to TechCrunch, the Indian market has been growing for Apple, with the country ranking as its fourth-largest market for iPhones, behind the U.S., China, and Japan. In the second quarter of this year, Apple shipped 3.45 million iPhones to India, underscoring its significance.
The launch of Apple Pay in India is also noteworthy because it contributes to Apple's services revenue, which rose 12% year-over-year to $30.74 billion in fiscal Q3 2026. Services now account for about 28% of Apple's total revenue.