Why Inseego Stock Fell Wednesday
Shares of Inseego (NASDAQ: INSG) fell Wednesday, closing down 11.7%, along with other 5G stocks. Though there was no direct news out on the company or the broader 5G industry, Apple's earnings report the previous night and management comments afterward may have had an effect.
First, Apple reported surprisingly robust growth in iPhone sales growth, up 8% and much better than expectations of a 1% decline. While that indicates that the iPhone 11 is a hit, it also could mean that consumers aren't holding out for an anticipated 5G iPhone later this year, which carries a broader warning for companies like Inseego, which makes hardware products including mobile 5G hot spots and is seen as a play on the coming 5G revolution.
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Source Fool.com
