The stock dropped 1.7% to $156.07 on Wednesday, although Apple is still up 34% for the year.
Pre-orders in China of the iPhone 8 and 8 Plus, which began Friday, Sept. 15, are tracking behind previous iterations of Apple's flagship mobile phone, according to Rosenblatt Securities Inc. analyst Zun Zhang.
In the first three days of availability on Chinese e-commerce group JD.com (JD - Get Report) , consumers rang up 1.5 million pre-orders of the iPhone 8, Zhang's research shows, compared to 3.5 million in the pre-ordering window for the iPhone 7.
Similarly, Zhang estimates that China Mobile's (CHL recorded one million pre-orders, Zhang wrote, compared to 2.5 million for the the iPhone 7 and 3.5 million for the iPhone 6 during the same period following their respective launches.
"This could be a sign that Sprint's pre-orders of the iPhone 8 did not live up to expectations," Piecyk wrote. "Other operators might be experiencing the same result with iPhone pre-orders, but feel less pressure than Sprint to use costly promotions to drive subscriber growth."
Of course, Apple devotees may be trying to make up their mind whether to buy the iPhone 8 or 8 Plus, which start at $699 and $799, respectively, or to hold out for the $999 commemorative-edition iPhone X. Pre-orders for the iPhone X, which lacks a home button, has an edge-to-edge OLED display, and uses face-recognition technology among other features -- begin October 27.
In addition, Raymond James analyst Chris Caso wrote Wednesday that shipments of the high-end iPhone X might be delayed, based on his discussions with Apple suppliers based in Asia.
Separately, as if more bad news was needed, a review in TheVerge.com reported issues with the Apple Watch Series 3. The review copy's 4G wireless connection -- which is a major advance in the Series 3 -- was buggy according to the publication. "The new Watch appeared to try to connect to unknown WiFi networks instead of connecting to cellular, when I was out and about without my phone," reviewer Lauren Goode wrote.
An Apple representative could not immediately be reached regarding the iPhone pre-orders and the Apple Watch's wireless connection. Apple told the Verge, however, on the Apple Watch that "we are investigating a fix for a future software release."
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