Apple faced a rough session on Wall Street Tuesday, with shares dropping as analysts cut their ratings on the company, according to Nettavisen. The downgrade marks the most pessimistic outlook on Apple since the era of Steve Jobs, the Norwegian outlet reported.
The selloff follows a wave of reports suggesting that Apple's upcoming iPhone 20 has been canceled, a claim carried by ITavisen in a report it labeled a "shock report." Nettavisen's coverage tied the market drama directly to these iPhone-related headlines, though the outlet did not provide further details on the exact size of the stock decline or the timing of the downgrade.
Finansavisen, another Norwegian publication, also covered the downgrade, emphasizing that analyst sentiment toward Apple had not been this negative since Jobs led the company. The reports did not specify which analysts issued the downgrade or how many firms changed their ratings.
Despite the bearish chatter, other outlets have pointed to potential positives. Vietnam.vn reported that the iPhone 20 Pro Max could feature an entirely new display, calling the device a potential masterpiece to mark the 20th anniversary of the iPhone line. Meanwhile, a Czech Apple-focused site suggested that the iPhone 20 will not arrive next year and argued that Apple should have halted development altogether.
The conflicting reports leave the future of the iPhone 20 unclear. Nettavisen's coverage focused on the immediate market reaction, while the other outlets offered competing narratives about the product's fate.
What to watch next: Apple's next earnings call or any official statement from the company regarding the iPhone 20's development timeline.
