US Stock Market Move | Apple Inc. (AAPL.US) falls more than 2% against the trend, JP Morgan says lack of cost-effectiveness in iPhone Air may suppress sales.

On Wednesday, Apple Inc. (AAPL.US) defied the market trend and fell by over 2%, closing at $228.32 per share after four consecutive days of losses. On the news front, J.P. Morgan stated that Apple Inc.'s iPhone Air adopts a new design concept, but its features are perceived as lacking in cost-effectiveness compared to its $999 pricing, which may inhibit sales. In contrast, the Pro series offers comprehensive feature upgrades and more attractive pricing, making it the main driver of growth. The base model of the iPhone 17 remains priced at $799 but will now have 256GB storage, which complies with China's subsidy policy and is expected to help the company recover in the Chinese market. The bank maintains its "overweight" rating on Apple Inc. stock.