Apple (AAPL) shares closed below the key $250 support level.
The company announced a $600 billion spending plan. This investment will span a four-year period. The initiative raised concerns regarding capital efficiency and potential margin compression.
Reported delays for an upcoming smart home display added to execution worries. Counterpoint Research reported that iPhone sales in China surged 23%. This growth occurred during the first nine weeks of the year. The performance bucked a general decline in the broader regional market.
Investors prioritized spending and execution risks over the positive sales data from China.