After the Bell: Apple stock drops; new Amazon products; Lebron James buys pickleball team
INDIANAPOLIS (WISH) — With recent inflation, it’s safe to say people are not lining up to refinance their mortgages.
Mortgage refinancing applications dropped 11% this week and its 84% lower than last year at this time.
The 30-year fixed mortgage rate is now 6.52%.
Apple stock drops
Apple stock on Wednesday fell 4%.
There’s also a lower-than-expected demand for the new iPhone 14.
Analysts say Apple decided to not increase their production in the second half of this year. Now, Apple will make 90 million iPhone 14s, the same number of iPhone 13s it’s made.
Amazon unveils new products
Amazon on Wednesday unveiled several new products, showing off new smart products for the home.
Some of the products include: smart TVs; a new Kindle that users can write on; new Echo speakers; and an update to the Astro device, a 20-pound autonomous dog that cost $1,000. The dog will tell users when windows or doors are left open.
Lebron James buys pickleball team
Lebron James is buying a major league pickleball team alongside Draymond Green, Kevin Love. The three NBA stars fell in love with pickleball after playing it together for the past couple of years.