Sonos, Logitech shares tumble after Apple boots their gear from its site
Shares of Sonos tumbled as much as 7 percent Tuesday morning after Apple removed its high-end speakers from its online store.
Sonos speakers, which were previously featured prominently on Apple’s website thanks to their AirPlay compatibility, were nowhere to be found on Tuesday. Also gone were headphones and speakers from Logitech, which was down more than 6 percent on the news.
Even Bose has had its popular headphones scrubbed from the site.
The removal of the products comes as Apple is preparing to launch a slew of new audio devices, Bloomberg reports, including a smaller version of its HomePod smart speaker as well as its first-ever over-ear headphones released under the Apple brand rather than Beats.
Apple’s retail associates were also instructed to remove Bose, Sonos and Logitech products from store shelves, according to the report.
Apple has been pushing its homemade audio products in recent years, selling more than 65 million pairs of AirPods earbuds in 2019, and is forecast to sell more than 90 million this year — thanks in part to its upcoming move to not include complimentary wired headphones with the next generation of iPhones.
Sonos was down 3.5 percent Tuesday morning, while Logitech was trading down 5.7 percent.
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