AP Photo/Richard Drew
- Apple is cutting more than 600 staff after reportedly shelving two projects.
- The iPhone maker risks losing focus and falling behind its rivals in the AI race, analysts say.
- Apple stock has slid 12% this year as concerns about growth and regulation mount.
Apple's decision to cut more than 600 employees in California speaks to the challenges facing the technology titan and affecting its stock price — and why analysts are divided over its outlook.
The iPhone maker is laying off or reassigning the workers as it reportedly pulls back from its electric vehicle and next-generation Apple Watch display projects.