Apple is sharply down after a research firm says iPhone 7 sales are down 25%


Tim Cook

Getty Images/Andrew Burton

Apple was down over 2% at one point during trading on Friday, although it has made a comeback and is currently down around 1.5% on the day. 

The stock dropped sharply at about 1:30 PM ET. Apparently, a German research firm, GfK, issued a report based on "channel checks" suggesting that iPhone 7 sales would be down from last year based on data from Europe and Asia. 

People who have seen a copy of the report are saying that it claims that iPhone 7 unit sales are down 25% on an annual basis against last year's iPhone 6S model, although it does not measure sales in the United States. 

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.25th Aug, 2022 Starts at 04:00 PM (40 mins)Register Now
Our Speakers
Dan Sheeran
Sandeep Gupta

Here's the chart: 


Apple GsK