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Among the "Magnificent Seven" stocks, only two have produced negative returns so far in 2024: Tesla and (NASDAQ: AAPL). Although Apple shares are only down a modest 1.5% as of this writing, the company's latest earnings signal that further losses could be on the horizon.

Apple is one of the most innovative companies of all time. From the iPad to the iPhone, it has put on a decades-long master class in developing hit consumer electronics.

However, in recent years, one of the biggest knocks against the company has been its lack of innovation. Although the company introduced its Vision Pro virtual reality headset earlier this year, demand has been uninspiring as consumers have less expensive alternatives -- namely, from Meta Platforms.

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Source Fool.com

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From Artificial Intelligence (AI) to iPhones to China, This Chart Sums Up Apple - sharewise