Apple stock slips as company pauses Apple Watch sales
Shares of Apple fell more than 1% before slightly rebounding on Monday after the company said it will halt sales of its Apple Watch Series 9 and Apple Watch Ultra 2 in the coming days. Apple will remove the watches from its online stores by the afternoon of Dec. 21 and from physical stores by Dec. 24.
Daniel Howley for Yahoo Finance:
The decision to pull the watches comes after the International Trade Commission (ITC) granted medical device maker Masimo cease-and-desist and limited exclusion orders preventing Apple from importing and selling the Series 9 and Ultra 2 in the US in October.
That kicked off a review period during which the White House could veto the orders. The review period ends Dec. 25. Apple is pulling its watches ahead of time to ensure it is in compliance if the White House doesn’t come to the company’s aid.
“Apple strongly disagrees with the order and is pursuing a range of legal and technical options to ensure that Apple Watch is available to customers,” the company said in a statement. “Should the order stand, Apple will continue to take all measures to return Apple Watch Series 9 and Apple Watch Ultra 2 to customers in the US as soon as possible,” the company added.
MacDailyNews Take: Proper management would have rectified this situation before a sales pause was necessary.
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