Actionable news
0
All posts from Actionable news
Actionable news in AAPL: Apple Inc.,

Strength In Apple Shares Not Translating To Its Suppliers And Carriers

Apple Suppliers Not Feeling The Love Today

Conventional wisdom dictates if Apple Inc. AAPL 2.56%'s stock gains on strong iPhone 7 pre-order commentary, then the wireless carriers and suppliers might also see their stocks move higher.

Tuesday's trading action should serve as another reminder of how unpredictable the stock market can be.

Apple's stock is higher by nearly 3 percent after T-Mobile US Inc TMUS 2.39% said the total number of pre-orders for the iPhone 7 rose four times compared to the next most popular iPhone.

Related Link: Apple's Stock Erases September Event Losses As iPhone 7 Pre-Orders Set Records

However, shares of T-Mobile were trading lower by nearly 2 percent. Shares of Sprint Corp S 5.06% were lower by nearly 4 percent, even though the company said customers are placing orders for the iPhone 7 at a rate that is nearly four times greater than the same period a year ago.

Verizon Communications Inc. VZ 2.45% and AT&T Inc. T 1.94% didn't communicate with investors any iPhone 7 pre-order data but there stocks were lower by 3.61 percent and 1.62 percent, respectively.

Apple's Supply Chain

Many companies involved in Apple's supply chain were also trading lower on Tuesday:

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.