Apple Inc. shares (AAPL) plunge by 4%, erasing more than $150 billion from their market value, amid reports that the launch of the foldable iPhone has been delayed.
And Nikkei Asia reported that the company is facing engineering challenges related to what is expected to be the first foldable device produced by the iPhone manufacturer.
A person familiar with the situation told Nikkei Asia: "Apple and its supply chain are working under a tight schedule, and current solutions are not sufficient to fully address the engineering challenges... So, more time is needed."
The stock is currently down by more than 8% since the beginning of the year, trading at a level slightly below its 200-day moving average, which is $250...
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