Apple and Tesla stocks have tumbled over growing concerns about delays in their production lines in China, BBC reported.Apple shares hit their lowest point since June 2021. Tesla's stock has dropped 73 per cent from a record high in November .
The new wave of COVID-19 in China continues to affect Apple's iPhone production. A large-scale coronavirus outbreak in China is endangering Apple's business, and supply chain specialists warn of an increased risk of months-long challenges to iPhone production.